Fundamental analysis for April 11, 2016

11 April, 2016

Fundamental analysis for April 11, 2016

Based on the Fed minutes, the Central Bank is unlikely to hike the interest rates until June amid the concerns about the global economic growth. The Fed minutes pressured the dollar, still it could show a short-term growth after Janet Yellen’s speech. According to Janet Yellen the rate hike is still part of the regulator’s plans for this year.

The fact that the European Central Bank confirmed its readiness to stimulate the economy if necessary weakened the euro. However by the end of the trades the pair euro/dollar slightly increased.

In economic news, the weak economic reports in the UK did not support the pound which stopped growing against the US dollar. At the same time the dollar remained fragile due to the Fed cautious position regarding the rates hike. By the end of the week the pair pound/dollar showed a growth.

The yen growth was stopped by The Bonds Market growth as well as the possible intervention by the Japanese Central Bank. In addition, the Current Account for February increased to 2,434.9B compared with 520.8B in the previous month. Nevertheless the pair dollar/yen closed the trades with a decrease.


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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...

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...

  


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