Abe’s third arrow

By GG Analyst in Reviews 0 Comment

EUR/USD

Though the beginning of the day was far from good, the single currency nevertheless grew against the dollar in the course of the day. This morning a fresh tide of growth helped the pair go up to 1.3586. It is a bit above the high set at the end of the previous week, which speaks about bulls’ success in winning back their positions. Their morale should be boosted by the hints of different ECB’s officials at scanty chances of further steps from the Bank.  We hear hints that the ECB will resume bond purchasing to its balance sheet at the very more…

EUR is sold while growing

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro’s shy attempts to recoup its losses on Friday faced a serious obstacle. While there’s no clear-cut downtrend in the pair, bulls don’t seem to be very strong either. The situation looks as though below its 200-day MA the euro was sold on upward bounces instead of being purchased on the dips as it has been in the previous months. If only bulls were as strong as before, they would, most likely, take advantage of the poor US statistics, released last week. Thus, Thursday’s publication of the retail sales data reported growth by 0.3% in May against the expected 0.5%-0.7%. more…

EUR feeds stock growth

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro is losing ground. The tiny brook of the ECB’s liquidity is quietly doing what it should. During the initial reaction to the ECB’s news last week there were enough euro-buyers not only to take the pair back, but even to try to get above the 200-day MA (1.3644 at that moment). Anyway, Friday and this week will dot the i’s and cross the t’s. Even skeptics, asserting that the ECB’s measures have a very small effect, have to admit that in contrast to the trend for toughening in the CBs of other developed countries the European policy looks more more…

Soft pressure on the euro

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is trying hardest to catch at 1.36. Yesterday it slipped from 1.3668 to 1.3585 in the course of the sluggish EU session. The only thing which prevented it from further  decline was strengthening of risk demand that was supporting the US exchanges. Whatever skeptics say about the minimum effect of the ECB’s measures on the euro, it still exists. In the currency market the rates have shifted from the euro to the dollar, so in the quiet market we see prevalence of gradual  euro selling in favour of the US currency. The latter will function more as a more…

Growing risk demand

By GG Analyst in Reviews 0 Comment

EUR/USD

The employment data almost completely met the forecasts and even slightly exceeded them. The number of jobs grew by 217K in May against the initially expected 214. With this indicator it is more of an accident rather than regularity. Despite its importance this indicator cannot be forecasted, mainly because it is leading and as such affects other trends. The other parameters of Friday’s US employment statistics also met the expectation or slightly surpassed them. The private sector employment increased by 216K, which is much different from ADP’s data (179K). Average hourly earnings show slow, but steady growth. The annual growth rate more…