Fundamental analysis for April 27, 2016

27 April, 2016

Fundamental analysis for April 27, 2016

Yesterday the economic calendar was full of American releases. Durable Goods Orders report for March was published the first (0.8% vs forecast 1.8%). Consumer Confidence for April came in at 94.2 (the previous value was 94.2, the forecast was 96.0). Traders expected to see a hint regarding the state of the economy before the Fed decision on Wednesday, which could have an impact on any further movement of the dollar. Meanwhile investors avoided opening new positions before the Fed meeting.

There was no important news in the Eurozone yesterday. After a strong growth the pair euro/dollar slightly decreased by the end of the trades.

The UK published Mortgage Approvals index for March (45.1K vs the forecast 46.0K). The pair pound/dollar showed a growth but by the end of the trades it slightly fell.

The interest in the safe assets triggered the buying of yen. The rumours that the BoJ won’t apply new soft measures supported the yen as well. We believe that the regulator will evaluate more carefully the effect of the running measures and will apply the new ones only in June. The pair dollar/yen strengthened.


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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...

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...

  


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