Fundamental analysis for March 01, 2016

1 March, 2016

The NFP is the most anticipated event of this week. This is the final report, which may force the Federal Reserve to change its mind about the rate hike in March. We will receive ADP report on Wednesday, NFP will be released on Friday.

The euro remained under pressure as the low inflation reminded investors that the ECB was likely to tighten its policy in March. Concerning consumer prices: Germany showed a growth for February and accelerated to 0.4% after falling to 0.8% in January, while other Eurozone countries showed a deflation. The Eurozone presented consumer price index for February. The index showed -0.2% y/y, the forecast was 0.1% y/y. The trades on the pair euro/dollar closed with a decrease.

Brexit theme did not lose its effect on the global financial markets. George Osborne's (the Finance Minister of Great Britain) statement gave a new impulse to panic. Osborne said that the British currency might fall and declared that the country might face serious economic problems if it left the EU. By the end of the trades the pair pound/dollar showed a growth.

The yen became popular after Japan's industrial production report for January publication. The index rose in comparison to the previous month. Industrial production growth was 3.7%, while economists forecasted an increase by only 3.3%. The pair dollar/yen fell.


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Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...

Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...


Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...

Gold has jumped to 1265 level

The resistance holds at 1280, support comes in at 1245.9. Major resistance is highlighted at 1295.4. Next target is set at 1350...


Gold prices bounced off

The spot was struggling to build onto the recovery during the night trades. Buyers lost their steam at 1265 where the pair found some fresh offers....

Golld turned around and reversed

The bullish trend remained intact on Tuesday. The price bounced from the upper limit...

Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...

  


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