Fundamental analysis for March 04, 2016

4 March, 2016

Fundamental analysis for March 04, 2016

The United States published Initial Jobless Claims (278000 against the forecasted 271000) and Non-Manufacturing PMI for February (the data came in at the level of 53.4 the previous value was 53.5, the forecast was 53.2). Today traders' attention will be focused on NFP.

The differential yields on US and German government bonds reduced, which increased the investment attractiveness in European assets. This in return would support the demand for euro. On the other hand, the risk "assets" are still in demand in the financial markets, which is a negative factor for the euro as a funding currency. By the end of the trades the pair euro/dollar showed a strong growth.

The UK published Services PMI from Markit for February. The release came in at the level of 52.7, the previous value was 55.6, the forecast was 55.1. Firstly, the GDP grew by 0.65%, with an overall economic growth of 0.5% in the services sector in the fourth quarter of 2015. Secondly, the labor market positive dynamics shall increase optimism among purchasing managers in this sector. The pair pond/dollar increased.

The published APD report justified our positive expectations. The final figure was 214 000, that is the first positive sign for Friday's data on the Non-Farm. Japan upset investors with its latest releases having published weak personal consumption report. The yields differential on US and Japanese government bonds has been expanding the last four trading days in a row, which supported the demand for the dollar. The pair dollar/yen closed the trades with a decrease.


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

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...

  


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