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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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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