Fundamental analysis for March 29, 2016

29 March, 2016

Fundamental analysis for March 29, 2016

The dollar continued to be in demand, which returned most of its losses that happened after the Federal Reserve meeting. The traders’ activity was low amid the Catholic Easter celebration. We expect the volatility to return today when traders return from holidays.

The surprisingly strong US GDP report supported the dollar as well. The GDP was revised upwards. The US economy grew by 1.4% in the fourth quarter against the previous estimate at + 1.0% and an increase of 2% in the third quarter. These figures became another argument in favor of an early rate hike, which was repeatedly expressed by the FED representatives last week, this in return supported the demand for the dollar. The United States published Pending Home Sales for February. The forecast was 1.0%, the data came in at the level of 3,5%. The trades on the pair euro/dollar closed with a slight growth on Monday.

The GBPUSD remained vulnerable, and continued to advance south amid concerns about Brexit results. High uncertainty about Brexit results provoked an increase in volatility for the pound the pairs. By the end of the trades the pair pound/dollar increased.

The inflation report for February in Japan changed the Japanese and the United States differential of CPI indicators in favor of the latter. The spread was 0.1% in January and increased by 0.43% in the last month of winter. The pair dollar/yen closed the trades with a decrease


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

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...

  


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