Fundamental analysis for May 18, 2016

18 May, 2016

Fundamental analysis for May 18, 2016

Tuesday turned out to be full with economic news. The US statistics was the main driver of the day. The States published the Core Consumer Price Index (0,2% that coincided with the forecast) and Industrial Production (0,7% vs. forecasted 0,3%) reports. Williams and Lockhart (the Federal Reserve members) gave their speeches. Williams supported the idea to raise the rates two or three times this year. According to Lockhart they do not plan the negative rates scenario.

The Eurozone just published their positive Trade Balance for March (28.6B vs. forecast 22.5B).

The pound reduced its gains against the dollar, when the inflation in the UK slowed in April for the first time since September 2015. Retail Price Index increased by 0,3% y/y, after growing by 0,5% in March. Traders expected the inflation to remain at 0,5%, but the British inflation has been below the target level of 2% for more than 2 years.

The Japanese Industrial Production sharply accelerated in March (3,8% vs. previous 3,6%). Capacity Utilization increased from -5,4% to 3,2% in March, still these figures could not help the yen.


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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...

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...

  


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