Fundamental analysis for February 17, 2016

17 February, 2016

Fundamental analysis for February 17, 2016

The dollar started the new trading week on a positive note. The US currency purchase supported the positive sentiment for the world stock exchange. Even China's return to the market after long holidays did not spoil that sentiment. The imports and exports volume from China decreased by 18.8% and 11.2%, respectively in January.

The banking sector shares outperformed the market in Europe. Investors' "risk appetite" was growing which is a negative factor for the euro as a funding currency. Germany has published the ZEW Survey - Economic Sentiment for February. The index showed 1.0 (the previous value was 10.2; the forecast was 3.2). The pair euro/dollar fell.

The UK published the inflation report for January. A strong labor market pointed out that CPI growth (in annual terms) could be a little better than the consensus forecast (0.4%). The unemployment rate for November decreased by 5.1%, while wages increased by 1.02%. However the CPI came in at the forecasted median 0,3%. By the end of the trades the pair pound/dollar sharply fell.

The Japanese negative macroeconomic statistics keeps showing correction. GDP decreased by 0.4% in the fourth quarter. The volume of industrial production has been reducing for the second year in a row and the negative trend accelerated from 1.91% to 2.49% in 2015. The sharp yen's strengthening, that we saw in the beginning of the year, carries additional risks to the Japanese economy. The pair dollar/yen is consolidating after a decrease.


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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...

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...

  


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