Fundamental analysis for March 10, 2016

10 March, 2016

Fundamental analysis for March 10, 2016

This week is poor with news. There is one important exception: the ECB meeting on Thursday, March 10. The ECB President Draghi has repeatedly made it clear that the ECB is ready to support the economic growth of the Eurozone by their actions. The euro was effected by expectations that the European Central Bank was likely to soften the monetary policy again this week. The ECB is expected to cut the rates further into negative territory on Thursday.

Manufacturing Production in the UK increased in January by 0.7%, vs the expectations of 0.2%, as well as the decline in the month before by 0.3%. In annual terms, Manufacturing Production fell by 0.1%, although we expected a decrease by 0.7%. Pound remained under pressure amid uncertainty about the Brexit results.


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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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