Fundamental analysis for April 25, 2016

25 April, 2016

Last Friday the dollar rose against major currencies to weekly highs amid the disappointing statistics in the Eurozone. The United States published Manufacturing PMI for April. The index came in at 50.8, the forecast was 52.0.

According to Markit research Group PMI composite index in the Euro zone fell to 53.0 in April from 53.1 in March. The same index in Germany rose to 51.9 in April from 50.7 in the previous month, while Service PMI fell to 54.6 from 55.1.

The speculations that the Bank of Japan may introduce new stimulus measures at the next meeting on April 27-28 continued to press the yen. The Central Bank may extend the program of buying assets or promote the interest rates even further into a negative territory.


Source link  
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...

  


Share: