Fundamental analysis for April 12, 2016

12 April, 2016

Fundamental analysis for April 12, 2016

Cautious statements by William Dudley (the Fed representative) pressured the US currency. Dudley called for a cautious and gradual approach towards the interest rate hike.

No important news were published on Monday. Traders focused their attention on the Bonds Market dynamics which sent strong "bearish" signals: the 10-year German government bonds yield fell. The pair EUR/USD is trading in a flat.

The UK published some macroeconomic data, the weak data did not allow the bulls to return to the market. The industrial production volume for February decreased by 0.3%, in addition the index recorded a decrease of 0.1% for the first two months of the year. The same index in the USA for the same period showed an increase by 0.1%. Although the difference was small, still it was not in favor of the British currency. However by the end of the trades the pair GBP/USD strengthened.

Bearish sentiment within the USDJPY is very strong. The trading is defined by "risk appetite". The pair 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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