Fundamental analysis for April 18, 2016

18 April, 2016

Fundamental analysis for April 18, 2016

The market volatility decreased before the summit in Doha, its results may impact the risk assets. In addition, the US currency got under pressure after the Fed comments and the weak inflation data from the US. According to D. Lockhart (Chief Executive Officer of the Fed of Atlanta) he would not vote for a rate hike in April, supporting a cautious approach to the monetary policy tightening due to low consumer spending. By the end of the trades the market volatility increased.

The United States published Industrial Production volume for March. The index came in at the level of -0,6% m/m (the previous value was -0.60% m/m, the forecast was -0.10% m/m) and the Consumer Sentiment index (from the University of Michigan) for April. The index showed 89.7 (the previous value was 91.0, the forecast was 92.0).

The Euro area inflation data had no significant effect on the EUR/USD (the index reached the zero value after falling by 0.1% y/y). The Euro zone published Trade Balance for February. The index showed 19.0 billion euro, the previous value was 20.0 billions. The pair euro/dollar showed a growth.

Bank of England did not bring any surprises, leaving the rate unchanged at the level of 0,5%. The Bank pointed to the risks related to the Brexit. The pound remained calm to the regulator’s statements. By the end of the trades the pair pound/dollar sharply increased.

The weak US retail sales, PPI and CPI reports disappointed investors. The US and Japanese government bond yields decreased which reduced the attractiveness of the US assets. The pair dollar/yen decreased by the end of the trades.


Source link  
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...

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...

  


Share: