Fundamental analysis for May 06, 2016

6 May, 2016

Fundamental analysis for May 06, 2016

The USA statistics was the focus of our attention yesterday (Initial Jobless Claims 274K vs forecast 260K). Today we expect Non-Farm release.

Europe celebrated the Ascension Day and many European Central Banks did not work. Despite the day off the market was volatile and the pairs EUR/USD and GBP/USD decreased.

The UK published Services PMI that fell more than expected (52.3 vs. expectations 53.5).

Friday is the first working day in Japan after the long holidays. We expect a sharp growth of the yen. Even now, when the US stock market decreased, the USD/JPY showed a growth.


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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...


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...

  


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