Fundamental analysis for April 22, 2016

22 April, 2016

Fundamental analysis for April 22, 2016

The ECB meeting and M. Draghi press-conference became the main events of Thursday. The regulator left the rate unchanged at 0%. According to Draghi he does not exclude a transfer to the negative rates as well. The soft policy will continue until the inflation reaches 2%.

The pound fell against the US dollar after the disappointing retail sales release, that undermined the optimism about the strength of the British economy. The total volume of retail sales for March was expected with a decrease by 0.1%, but it fell even lower to 1.3%.

Philadelphia Fed Manufacturing index for April decreased and showed -1.6. Initial Jobless Claims came in at 247K against the forecast of 263K.

The yen slightly rose even against the background of weaker-than-expected Trade Balance release. The Balance (taking into account seasonal correction) amounted 755,0B against the expectations of 834,6B. Exports grew from -4.0% y / y to -6.8% y / y, imports grew from -14.2% y / y to 14.9% y / y. Kuroda’s statements regarding further policy easing if necessary supported the yen as well.


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

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...

  


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