Oct 08

FUNDAMENTAL ANALYSIS BY NSFX 08.10.2015

  • BY:
  • October, 08th, 2015 20:17 +00:00

Good evening,

The FED Minutes increased the probability that the Federal Reserve will start to increase rates the next year. The US dollar was sold across the board but important technical levels were not violated thus the weakness on the US dollar on the medium term must not be taken for granted.

EurUsd is up 40 pips to 1.1273 (+0.36%) and UsdJpy is trading at 119.89 (-0.1%), down 12 pips. Cable did not increase its volatility as many intraday traders expected, and is gaining 38 pips at 1.5383 (+0.25%). The greenback is losing ground against both Kiwi and Aussie dollar.

US equities were nearly down 1 percentage point but the FED triggered buying orders and the S&P500 is trading at 2,013.7 (+0.91%).

Silver is 15.71 $/oz (-2.21%), and is undeperforming the shiny metal. Gold is trading at 1,139.93 (-0.46%). Tomorrow UK Trade Balance and Canadian Unemployment Rate will be the most relevant event of the trading session.