Fundamental analysis for April 01, 2016

4 April, 2016

The dollar is still under pressure. In general, traders continued to get rid of the American currency after the recent soft comments by Janet Yellen who did not exclude a return to the economy stimulus. The NFP became one of the main events last week. The indicator showed 215,000, the forecast was 205,000, after a growth by 242,000 in February. The USA also published Unemployment Rate for March that came in at the level of 5.0%. The previous value was 4.9%, m / m, the forecast was 4.9%.

German Retail Sales report was a contradictory one. Even though it showed a drop of 0.4% on a monthly basis, it grew on annual basis by 5.4%. Unemployment Rate in Germany in March remained unchanged- 6.2%. Unemployment Change came in at 0. Manufacturing PMI in Germany for March showed 50.7 with a forecast of 50.4. Consumer Price Index in the European Union lost 0.1% in annual terms, which point out the presence of deflation in the European Region. Despite a mixed macroeconomic statistics from the EU, investors interpreted it as a positive sign. The pair euro/dollar closed the trades with a slight growth.

The United Kingdom published the Manufacturing PMI for March that came in at the level of 51.0 (the previous value was 50.8, the forecast was 51.3). The pair pound/dollar decreased.

Japan published the Tankan Non - Manufacturing index for the 1st quarter: the index fell to 22 from 25. Tankan Large Manufacturing Index for the 1st quarter showed a decrease from 12 to 6. The pair dollar/yen fell by the end of the trades.


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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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