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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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...

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...

  


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