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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Gold reversed some losses

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Pound tested 1.3200 and stopped

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Brent failed to approach 49.50

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DAX index turned bearish

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Gold bounced from its upper limit

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Gold price reached important target

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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...

  


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