Fundamental analysis for February 09, 2016

9 February, 2016

Fundamental analysis for February 09, 2016

All traders' attention was directed to the USA labor market statistics. Despite the fact that the NFP has not reached even to a modest forecast (it showed 151 000 versus the forecast of 190 000), and the previous value was revised downward, the dollar was able to consolidate its positions. However on Monday the trades were differentdirected.

The US Average Hourly Earnings showed a strong jump of 0.5% from the previous 0.0%. Meanwhile, the unemployment rate reached a cyclical low level of 4.9%, having fallen unexpectedly by 5.0%. The wages growth rate is crucial for the Fed, pointing to the inflation acceleration prospects that is why the dollar ignored the weak NFP and focused on the Hourly Earnings results. The EU did not present any significant data. By the end of the trades the pair euro/dollar slightly increased.

The Friday's labor market release contributed to the US and UK government bond yield spreads expansion which is traditionally a bearish factor for the British currency. On the other hand, the oil market bulls prefer to long which in its turn positively affects the pound value. However the pair point/dollar rebounded upwards after a decrease.

The Monetary Policy Meeting minutes will be published on February 18th. Meanwhile according to the Bank of Japan chairman the volatility in the world markets have a negative impact on business sentiment. The pair dollar/yen sharply fell.


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Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

Gold prices traded in green

The gold recovery stalled around 1235 dollars per ounce on Monday. Buyers did not find any reason to move the price further. The precious metal was slowly declining...


Brent found a solid support after two day decline

Oil prices slightly rose on Friday morning due to the dollar's retreatment. However, Brent further growth was limited on the news that Russian oil production for February did change comparing to January...

Gold prices slightly fell

Gold prices retreated from fresh highs and spent the day in a consolidation. Sellers drove the spot to 1250 where the precious metal stayed in a tight range during the European session...

Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...


Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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