Fundamental analysis for May 26, 2016

27 May, 2016

The dollar strengthened its positions amid positive economic reports. According to the latest Fed comments, the US regulator may raise the rates at its meeting in June. In economic news, the United States published Initial Jobless Claims number (268K vs. forecast 275K).

The Eurozone agreement with Greece supported the euro. Greece reached an agreement with its creditors and shall receive a new tranche of loans (10 billion euro).

The second GDP estimate for the first quarter in the UK confirmed that the British economic recovery slowed down. The economy grew by 0,4% in the first quarter from 0,6% in Q4 2015. The British economy faced problems with a weakened growth in emerging markets, especially in China. The upcoming referendum slowed the growth as well.

The dollar remains near in a range waiting for J. Yellen’s speech. The market expects clues from the regulator regarding the possible rate hike in June. The yen grew and deprived the dollar from its latest gains. The Japanese currency growth forced investors to close positions before any potential risk event.


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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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