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%.


Source link  
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...

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...

  


Share: