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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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...

Gold prices slightly fell

Gold prices retreated from fresh highs and spent the day in a consolidation. Sellers drove the spot to 1250 where the precious metal stayed in a tight range during the European session...

Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...


Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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