Fundamental analysis for February 23, 2016

23 February, 2016

Fundamental analysis for February 23, 2016

The US consumer price index for January rose by 1.4% year over year, beating our expectations about a growth by 1.3%. The core inflation, which excludes food and energy, rose 2.2%, also more than expected.

There was a decrease for demand on euro because the composite PMI fell down. The composite PMI is the combination of the manufacturing and services sectors activities, it reached a 13-month low of 53.0 in February from January's value of 53,6. Economists expected 53.3.

British Prime Minister David Cameron said that he had agreed with the European Union on the exceptional conditions of membership within the union. Still, according to his campaign promises, he would held a referendum where the country would decide to stay or not within the EU.

According to the preliminary estimates, the Japanese manufacturing sector index activity for February came in at 50.2, while experts expected it to fall from 52.3 to 52.0 last month.


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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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