Fundamental analysis for April 05, 2016

5 April, 2016

According to the US labor market report published last week, the Non-Farm increased by 215 000 in March (the forecast was 205 000). The Average Hourly Earnings grew to 0.3% after falling by 0.1% a month earlier. The overall picture was somewhat blurred by the fact that the unemployment rate unexpectedly rose from 4.9% to 5.0%. The dollar generally remained under pressure after Yellen’s recent soft comments.

Unemployment Rate in the Euro area fell to a new multi-year low in February, but remained high considering the current economic problems in the region. Eurozone unemployment rate was 10.3% – the lowest since August 2011. The pair euro/dollar is trading in a flat.

The UK published PMI Construction report which remained at the previous level of 54.2, while the forecast was 54.0. The pair pound/dollar slightly increased.

The Japanese Yen moved upwards on Monday. Investors sluggishly reacted to the US labor market reports and Manufacturing PMI. On the other hand the risk appetite increase was a negative factor for the yen as a funding currency. However by the end of the trades the pair dollar/yen decreased.


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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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