Fundamental analysis for March 21, 2016

21 March, 2016

The market is still volatile after the Fed meeting, where the regulator corrected his plans and announced two rates hikes instead of four. Despite the "risk appetite" growth, the euro enjoyed steady demand as a funding currency. The market has completely ignored this factor, which indicated the presence of strong buyers. The dynamics of the debt market showed mixed trends: the 10-year government bonds yield in Germany grew in relation to their counterparts in the UK, but reduced to US Treasuries. The trades on the pair euro/dollar closed with a decrease.

The UK did not publish important macroeconomic statistics. We believe that investors will focus their attention on the dynamics of the oil market. Black gold fell by 3%, updating the maximum of the last trading week. Demand for oil impacted the pair GBP/USD in a traditional positive way. The pair pound/dollar increased.

The pair USD/JPY set a fresh low for the last 14 months. Such a strengthening of the yen may not please the monetary authorities of Japan, as this strengthening is a threat to exporters. The United States published consumer confidence from the University of Michigan: 91,7 against the forecasted 92,1. By the end of the trades the pair dollar/yen increased.


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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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