Fundamental analysis for May 12, 2016

12 May, 2016

Fundamental analysis for May 12, 2016

The major pairs corrected against the US dollar yesterday. The EU did not publish anything important and the market volatile was low. The British statistics was not able to impact the market through the main cross-pair euro/pound and all trades were calm and peaceful.

The lack of drivers calmed the UK market. Still the upcoming referendum may become one of the drives in the near future. According to Michael Sanders (the Bank of England Monetary Committee representative) if Britain votes for the exit from the EU, the Central Bank will be forced to raise the rates to 3.5% by the end of 2017. If the country leaves the EU union that might trigger the collapse of the pound and will increase the inflation.

On Wednesday, the dollar fell against the yen, as investors took profits. This was after the recent rally reaching the two-week highs and the Japanese statements about its readiness for an intervention. However, many investors expect that Japan will stay away from any action to weaken the yen before the G7 meeting.


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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...

Gold prices slightly fell

Gold prices retreated from fresh highs and spent the day in a consolidation. Sellers drove the spot to 1250 where the precious metal stayed in a tight range during the European session...

Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...


Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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