Fundamental analysis for April 28, 2016

28 April, 2016

Fundamental analysis for April 28, 2016

The dollar remained stable to other majors on Wednesday preparing for the final Federal Reserve System political statements. Investors focused on the outcome of the political meeting waiting for any hints regarding the interest rates change in June. The Fed kept the interest rates unchanged at 0.5%.

Consumer Confidence in Germany significantly improved (9.7 versus the previous 9.4). Consumers believe that the German economy will recover in the coming months and expect its moderate recovery. The pair euro/dollar slightly strengthened.

The pound stopped the growth when the market found out that the UK economy had grown by 0.4%, in line with economists' expectations, but slowed to 0.6% in the previous quarter. The UK economic growth in the first quarter was 2.1%, (on an annual terms) similar to the previous quarter and slightly higher than the expected 2.0%. The pair pound/dollar closed the trades with a decrease.

The pair dollar/yen increased by end of the trades.


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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...

Gold prices slightly fell

Gold prices retreated from fresh highs and spent the day in a consolidation. Sellers drove the spot to 1250 where the precious metal stayed in a tight range during the European session...

Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...

  


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