Fundamental analysis for May 20, 2016

20 May, 2016

The dollar was traded at a seven-week high against the basket of major currencies. The dollar grew when the April Fed meeting minutes showed that the interest rates could rise as early as the next month. The US published weekly initial jobless claims report (278k vs. expectations 275k). William Dudley (the Fed representative) gave his speech by the end of the trading day. According to Dudley if the economy corresponds to the forecast the regulator shall hike the rate in June or July.

The Central Bank of the European Union published its last meeting minutes. According to the minutes the Central Bank may use any instruments to rise the inflation, as long as they are effective.

The pound continued to strengthen against the dollar when the volume of the UK retail sales rose in April. The volume grew despite a sharp fall of clothing sales, which could be due to off-season weather.

The US dollar rose to a three-week high against the yen. The pair USD / JPY grew against the correction on the Japanese equity markets and after the FOMC minutes publication. Only by the end of the trades the pair dollar/yen decreased.


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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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