Fundamental analysis for April 26, 2016

26 April, 2016

The market started the week rather good. Trading was in the absence of any drivers. The United States published New Home Sales report in March (the previous value was 512K; the forecast was 527K). The data came in at the level of 511K.

Germany published Business Climate for April (106.6 versus the forecast of 107.0). The index low forecast is due to its close correlation with the composite PMI. Which prevented a better forecast for Business climate, taking into account the negative dynamics of the latter. However the pair EUR/USD increased.

The pair GBP/USD started the week with a growth. Oil prices successfully completed the previous trading week in the "green zone", despite Doha summit failure. The oil market bullish sentiment had a positive impact on the British currency (as expected). In spite of the oil prices decrease the GBP/USD grew.

The USDJPY rallied amid a sharp collapse of the yen in response to the news from the Bank of Japan. According to the market rumors the regulator is considering the possibility of issuing loans with a negative rate. These conversations provoked the Japanese currency sell-off. Nevertheless, as a result the USD/JPY fell.


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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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