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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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...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

  


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