Fundamental analysis for March 09, 2016

9 March, 2016

Fundamental analysis for March 09, 2016

Yen showed a growth against the dollar and the euro when the weak Chinese data revived fears about Chinese economy slowdown. This data caused demand stimulation for refuge currencies. The official data showed that the volume of Chinese exports fell on an annual basis in February by 25.4% to 126.1 million against the forecasted decline by 12.5%. The volume of imports fell by 13.8% year over year, slowing from 18.8% in January. On Tuesday, the Japanese data showed that the GDP had fallen by 1.1% in the last quarter of 2015, being revised from 1.4%.

The head of the Bank of England Governor Mark Carney spoke about the financial costs and benefits of Great Britain membership in the EU. The UK released the 2nd estimate of Eurozone GDP for the 4th quarter. This indicator (seasonally corrected) was 0.3% compared with 0.3% in the previous quarter. Experts had expected a growth rate for the last quarter by 0.3%. We expected the French trade balance with a slight improvement. The euro remained under pressure amid high expectations that the ECB will launch additional monetary policy easing.


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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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