Fundamental analysis for March 24, 2016

24 March, 2016

Fundamental analysis for March 24, 2016

The tragic events in Brussels impacted the market. This news pressured the euro and stock assets. As a result, the dollar strengthened against most of its rivals, but lost to the commodity currencies. The United States published New Home Sales for February at the level of 512K (the previous value was 502K, the forecast was 510K).

Despite the increased geopolitical tensions on Tuesday, the euro as a safe asset failed to get additional dividends. The terrorist attack in Brussels supported the single currency only in the short term. In general traders did not close "risky assets" in panic. However the pair euro/dollar fell on Wednesday.

The "black gold" dynamics identified the trend on the British currency. Inflation release for February disappointed the market with its weak data. CPI came out worse than the consensus forecast. Inflation differential of UK and the United States re-expanded in favor of the latter. Consumer prices declined in both countries: the index declined by 0.53% in the UK, and by 0.05% in the United States. The pair pound/dollar continued the decrease.

The increased demand for "risky" assets supported the USDJPY "bulls". The fact that investors ignored the negative sentiment pointed to strong buyers presence who came not for one day. The pair USD/JPY showed a growth and rebounded downwards only by the end of the trades.


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Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...

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...

  


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