Fundamental analysis for March 11, 2016

11 March, 2016

Fundamental analysis for March 11, 2016

The single European currency was in the spotlight on Thursday. The European Central Bank (ECB) had to step up its measures to support the economy in a low inflation environment. The Bank's decision regarding monetary policy, and Mario Draghi's press conference were the main news of the day.

The ECB decided to mitigate the monetary policy, still the regulator made it clear that the new rate cuts probably would not happen. The ECB cut its deposit rate by 10 basis points as it was expected.

Germany published Trade Balance which came in at 18,9B compared to 20,3B the previous month. These data was revised upwards to 18,8B. Experts expected a growth rate for the last month to 19,6B.

According to the British macroeconomic statistics the Bank of England is not inclined to raise the interest rates. It is worth mentioning that the UK shall hold a referendum on the UK exit from the EU in a few months. It also put pressure on the British pound. The recent growth is considered as a correction from a seven-year low.

As for the Japanese currency, it came under pressure amid risks rising when China's Consumer Price Index came in better than expected. Meanwhile, the US has published Initial Jobless Claims. Economists had expected a decline from 277K to 275K. The index showed 259K.


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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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