Fundamental analysis for May 02, 2016

2 May, 2016

Last Friday was filled with events. The US published Personal Consumption Expenditures (at the forecasted level of 0,1%), Personal Spending (0,1% against the forecasted 0,2%), and Reuters/Michigan Consumer Sentiment Index (77,6 against the forecasted 80,2).

Despite the strong economic growth in the region, the euro lost some gains against the US dollar, amid the weak inflation report in the Eurozone. The index fell to -0.2% y/y in April after the previous 0.0% y/y.ВВ The Eurozone GDP grew both in annual and quarterly terms in April: Annualy 1.6% with no changes from the previous value, quarterly 0.6% vs the previous 0.3%.

The pound stopped growing against the US dollar. The sterling fell after the ambiguous economic data from three-month high. The UK published Net Lending to Individuals and Mortgage Approvals reports (1,883B, 71.360K respectively).

There was a day off in Japan. The USD/JPY pair continued falling after the Bank of Japan decision to maintain its current monetary policy. That was contrary to the market expectations, which expected a further easing.


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Positive market sentiment persists

On Tuesday, US markets continued to gain, after a positive start of the trading week on Monday. It is characteristic that on the positive sentiment...

Equity markets continue to decline

The last two trading days are marked by negative market dynamics, as equity indices are under pressure. On Wednesday, Europe was under pressure...

Asian equity indexes mixed

Asian indexes were mixed on Thursday following a soft close in Wall Street following a widely anticipated tax reform approval by Congress...


Mixed sentiment takes on in Asia

Asia markets were mixed on Monday, following a strong lead from Wall Street last week as market players looked ahead to fresh economic data, while...

Euro is firm at current levels

The preliminary estimate of the consumer price index in November rose to 1.5% from 1.4%. The data turned out to be less than expected...

Gold reversed some losses

The softer tone in the US Dollar allowed gold prices to reverse some losses. Buyers broke the upper limit of the selling channel and almost...


Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

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...


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