Fundamental analysis for February 10, 2016

10 February, 2016

The market got again concerned about the global economy state when the China’s report had indicated the foreign exchange reserves reduction to the 2012 minimum. The oil dynamics did not contribute to the market optimism growing as well having shown the signs of reduction.

The Germany Industrial Production for December 2012 was worth paying our attention. The production orders increased by 1.2%. The forecast was 0.4%. The pair euro/dollar by the end of the trades increased.

The UK National Statistics Office published the trade balance report (the previous value was -10,64B; the forecast was -10,40B; in fact -9,92B). The pound strengthening against the euro is a negative factor for the country exports as it reduces the products competitiveness. According to the British Industry Confederation exporters suffer from excessively high national currency rate. The trades on the pair pound/dollar closed with a growth.

Due to the lack of economic news that could be a driver for the market the traders' attention was entirely focused on the stock market dynamics. The yen was traditionally supported by the risk aversion. By the end of the trades the pair dollar/yen decreased.


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DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...

Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...

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...

  


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