Fundamental analysis for May 24, 2016

24 May, 2016

Fundamental analysis for May 24, 2016

The dollar strengthened when the latest Fed meeting showed that the interest rate may be raised as early as June. The United States did not publish any important report and all investors' attention was directed to Bullard and Williams’ speeches (the FOMC members). According to Bullard the regulator has more reasons to change the rates than to keep the soft policy. According to Williams the financial stability speaks in favor of a rate hike.

The euro fell to a session low when Markit PMI Composite slowed down in May (52.9 vs. expectations 53.2). The index fell despite the steady growth in Germany and France, as other regions showed a decline.

The UK did not publish important news on Monday.

The dollar fell against the yen on Monday amid Tokyo stock market falling. The Japanese trade surplus in April was significantly above our expectations. Manufacturing PMI in Japan declined in May (47.6 vs. previous 48.2). The index declined at the fastest pace in the last three years due to new orders decrease. The data came after the G7 meeting on Saturday, where the US again warned Tokyo about the negative consequences of intervening to weaken the yen.


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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...

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...

  


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