Fundamental analysis for March 02, 2016

2 March, 2016

Fundamental analysis for March 02, 2016

The US published Manufacturing PMI for February, the index came in at 49.5 when the forecast was 48.5. The escape from "risky" assets had a positive impact on the euro as a funding currency. Previously, the euro came under wave of sales when consumer prices report came in negative. The inflation index amounted 0.2% against the expected 0.0%. Base CPI noticeably slowed down as well to + 0.7% from + 1.0%. The CPI results significantly increased the chances that ECB would launch more aggressive easing policy in March. By the end of the trades the pair EUR/USD decreased.

We would pay attention for UK manufacturing sector PMI from Markit. Leading indicators pointed to negative data outcome. Industrial orders balance, according to the CBI, had been declining for ten consecutive months - the index recorded a maximum of the last three months in February. The PMI came in at the level of 50,8 against the forecasted 52,2. However the pair GBP/USD slightly strengthened.

Japan shall publish household spending for January, which had supported the US currency. The index came in at -3.1% y/y vs. the previous -4.4% y/y and the forecast of -2.5% y/y. The pair USD/JPY sharply grew.


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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...


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...

  


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