Fundamental analysis for May 23, 2016

23 May, 2016

The dollar is trading at seven-week highs against other majors. The expectations regarding the possible interest rate hike in the US significantly supported the US currency. Positive economic statistics from the US could lead to the monetary policy tightening in the upcoming months.

The ECB representatives made several important statements in the last weeks about the Central Bank policy in the upcoming months. According to Vitor Constancio (Vice-President of ECB) the Bank continues to stimulate the economy in spite of the growth of the inflation in the euro area. The Bank expects the inflation to reach the level of 2% in 2016.

The pound became optimistic when the last polls showed that the majority of people would vote to remain in the EU. The referendum is scheduled for June 23.

The dollar reached a three-week peak in the pair USD/JPY. The weakness of the US Bonds market supported the Japanese currency as the safe asset.


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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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