Fundamental analysis for May 04, 2016

4 May, 2016

The USA published some minor reports: ISM New York and IBD/TIPP Economic Optimism indices (48,7 against the forecasted 46,6). We single out only one news that might be interesting: Dennis Lockhart’s speech (the Fed representative). According to Lockhart the price strengthening can be seen right now, but it is too early to decide whether this is sufficient to hike the rate. The decision regarding the rate hike will be taken at the next meeting in June.

Producer Price Index in Eurozone for March showed -4.2% (the forecast was -4.3%, the previous value was -4.2%). The index rose for the first time this the year. That is a signal that the inflation is unlikely to fall in the coming months.

On Tuesday, the pound decreased from its four months high when the UK manufacturing activity fell in April for the first time over the past three years (49.2 from 51.0 in March, vs the forecasted 51.2). The published index increased concerns about the prospects for growth in the second quarter.

Bank of Japan did not work on Tuesday amid the celebration of the Constitution Day.


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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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