Yellen cuts growth attempts of USD

By GG Analyst in Reviews 0 Comment

EURUSD

EURUSD

Yesterday Yellen stopped dollar’s slow strengthening. After her speech USD started declining in many market. Eventually, EURUSD is again close to 1.1330 – the highs caused by comment after March FOMC meeting. It’s not clear yet if the pair is going to pass this level but Federal Reserve, obviously, wants to weaken the dollar. Moreover, Fed Chairman has started her speech naming the risks of China’s economy slowdown. And market analysts started joking that Federal Reserve became dependant on Chinese data instead of previously dependency on the US data. Though, apart from the pressure instruments on their own currency, FRS has more…

Will Yellen become a “hawk”?

By GG Analyst in Reviews 0 Comment

Janet Yellen

EURUSD

Household spending from the USA woke up market participants. Spending of Americans grew in February by 0.1% that is two times less than expected rise and is reflecting January declining tendency. Prices as well could not beat the expectations. Core PCE, the preferable inflation measure of Fed, has added 0.1% monthly after January increase by 0.3%. Though, forecasted increase was 0.2%. Annual growth rate remained the same – 1.7% y.o.y. while the forecasted growth was up to 1.8%. Personal earning continued to increase adding in February 0.2% after raise by 0.5% a month ago and by 0.3% during 3 months in more…

Short-term bottom of USDCAD

By GG Analyst in Reviews 0 Comment

USDCAD

EURUSD

Trading activity went quiet not getting news releases alongside with Eater holidays in banks, main market players. EURUSD is keeping moving at 1.1150 since Thursday. Though, during this period we did not have any significant macroeconomic data release. We can stress only the GDP 4th quarter increase. Yearly growth of GDP (quarter dynamics multiplied by four) reached 1.4% against the expected 1.0%. The nice surprise should not be considered that big if we take into consideration that the increase has occurred due to reassessment of personal consumer spending. For the time being this did not make any impact for Forex market. more…

Is it a new wave for Gold?

By GG Analyst in Reviews 0 Comment

EURUSD

The pair was fluctuating yesterday in the tight range of 40 points, but managed to come back to the starting levels by the end of the day. However, this can be considered as a small sign for changing of market sentiments since we have monitored the stable pair decline from the beginning of the week. As a whole we can admit that the pair has stabilized with the resistance level 1.1150 and has gained almost 70% after FOMC comments last week and 38.2% from the total pair rally that happened during ECB and FRS decisions. Unemployment Claims from yesterday’s release were more…

Dollar returns its levels

By GG Analyst in Reviews 0 Comment

EURUSD

The pair continues its slow upward movement. Market analysts emphasize that Federal Reserve officials insist on two rate increases against “less than one” during this year that is factored into interest rate futures quotes now. Though, remarkably steady downtrend of the pair after peaks on March 17 is visible from the first sight to the chart. Non-exchange character of Forex doesn’t allow us to assess the volumes that came through this decline. But we assume they were quite significant.
Federal Reserve actually did not change its course, while ECB widen its QE program and decreased the rates. That means they created good more…