Fundamental analysis for April 05, 2016

6 April, 2016

Fundamental analysis for April 05, 2016

The dollar remained under pressure. Yesterday's trading was ambiguous amid a contradictory of stock indexes and oil prices dynamics. USA weak data did not help the dollar as well. New York ISM index fell from the level of 53.6 to 50.4 vs. the forecast of 54.1.

Rosengren's speech (the Fed representative) slightly supported the dollar. According to Rosengren the regulator may need more than one rate hike. The United States published Non-Manufacturing PMI for March at the level of 54.5 (the previous value was 53.4, the forecast was 54.0).

The German government bonds decreased which reduced the attractiveness of the European assets. The pair euro/dollar was trading in a flat.

The United Kingdom published Service PMI for March. The index grew to 53.7 from the previous 52.7, in line with expectations. The UK 10-year government bonds yield grew which supported the British currency. However the pair pound/dollar decreased by the end of the trades.

Kuroda (the head of the Bank of Japan) said on Tuesday that the monetary policy alone could not solve all the problems. The dollar/yen continued to decrease.


Source link  
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...

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...

  


Share: