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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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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