Fundamental Analysis – 19/11/2015

Good Morning,

Negotiations between Greece and Europe have reached a new step towards the release of €2 billion for the country's restructuring banks. EURJPY is trading at 131.63 coming near its lowest level in months as EUR continues to ease as Mario Draghi pushes his stimulus package ahead of the ECB meeting in two weeks. EURGBP dipped 15 points as GBP held steady after inflation data met expectations while EUR continues to decline. USDCHF is trading at 1.0194 while GBPUSD is trading at 1.5232.

EURUSD dipped 22 points at the shared currency remains weak at 1.0657. European shares fell on Wednesday, retreating back from solid gains made in the previous session, as a new fall in the price of copper caused mining stocks to lose ground. Gold was showing limited movement on Wednesday, as the metal trades at a spot price of 1070.42. GBPUSD was flat at 1.5232 after inflation and producer’s prices came in exactly at forecast. CAD made no headway even though USD gave back a bit of its gains this week as traders booked profits. The price of oil was growing slowly with the opening of the trading day, as traders expect a reduction of growth stocks. USDCAD is trading at 1.3309 while EURGBP is trading at 0.6995.

China House Price Index up to 0.1% from previous -0.9%. The price action so far this week in the USDJPY is mirroring the equity indices because of the carry trade. NZD has depreciated over the past month, particularly against the USD, although it still remains above its September low. Countries including China and Japan are expected to witness considerable growth in light of expanding product manufacturing base. GBPCHF is trading at 1.5520 while EURCHF is trading at 1.0863.

Daily Performances (04.00 am. GMT); 

I hope you all have a nice day.

All the figures are as at the writing time.