Fundamental analysis for April 13, 2016

13 April, 2016

Fundamental analysis for April 13, 2016

The bullish sentiment in the commodity market had a negative impact on the dollar, due to the cost decrease of raw materials which is in the US currency. The oil and base metals confidently finished the first part of the week in the "green zone". Only by the end of the trades the dollar slightly strengthened.

The US and German government bonds yields differential decreased which increased the attractiveness of the European assets. On the other hand, the growth of pessimism in the world leading stock markets also played into the hands of the bulls (because the euro is one of the funding currencies). However the pair EUR/USD closed the trades with a decrease.

The UK inflation report became the main event of Tuesday. The gasoline prices growth and the average weekly earnings increase had its positive impact on the British bonds market. The 10-year government bonds yield increased by 8 bp. The UK consumer price index for March rose by 0.5% y/y that was the maximum value since December, 2014. The trades on the pair GBP/USD closed with a slight growth.

Japan and the United States did not publish any important macroeconomic statistics. The pair USD/JPY showed an upward correction.


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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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