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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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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