Fundamental analysis for April 28, 2016

29 April, 2016

Fundamental analysis for April 28, 2016

The Eurozone published the inflation report for Germany (0,2%) and Economic Sentiment Indicator (103,9). In addition, Germany published Unemployment Rate which remained unchanged at 6.2% (in line with the forecasts). Unemployment Change showed -16K.

The UK published Nationwide Housing Prices for April (on a monthly and annual basis). The index showed 0.2% m/m after the previous 0.8% m/m.

The US GDP for the 1st quarter became the main event of the day (the 1st assessment). The index came in at 0.5%, the forecast was 0.7% vs. 1.4% in the 4th quarter. Initial Jobless Claims showed 257K (the previous value was 247K, the forecast was 260K).

The Bank of Japan did not change its monetary policy and did not extend the stimulus rate. The Central Bank is still focused on the increase in the monetary base by 80 trillion yen per year, the deposit rate remained unchanged at - 0.1%.


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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...

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...

  


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