Fundamental analysis for May 11, 2016

11 May, 2016

The calendar of economic events revived the dynamics of the market on Tuesday. The US published Job Openings (5.757M vs. forecast 5.431M).

The single currency slightly rose against the dollar. The euro area published Industrial Production in Germany in March fell more than expected (-1,3% vs. expectations -0,2%), but exports showed a rapid growth (1,9% vs. expectations -0,1%).

The United Kingdom showed Trade Balance that supported the pound. Mark Carney (the Bank of England Governor) warned commercial banks and other financial institutions about a possible rate cut if the UK leaves the European Union.

The yen fell after the Minister of Finance speech on Monday. According to Aso the regulator is ready to intervene if the yen keeps growing. According to Japan Minister of Economy Nobuteru Ishihara he is closely watching the financial markets after the rally of the yen last week.


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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...


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...

  


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