USD wins back important technical levels

By GG Analyst in Reviews 0 Comment

EUR/USD

The bulls found enough strength to repel another attack against the euro on Friday. It would have been too impudent of them to put the euro/ dollar down to another local high for the third day in a row, depriving it of over two figures. It didn’t happen though and the situation was developing under the basic scenario, that we had described earlier on Friday. EURUSD was gradually rising to 1.3800 and even got above that level for a while. Anyway, the week was closed below that level, the general downtrend still holds. The geopolitical tension around the Ukraine is still more…

Steel nerves of US investors

By GG Analyst in Reviews 0 Comment

EUR/USD

The pressure didn’t weigh on the markets for long. There is a strong feeling that there is little that can distract investors from buying the US stocks: neither overbought markets, nor geopolitical troubles in Europe, nor bringing of the Fed’s rate increase closer by half a year. The decline of the US stock indices caused by Yellen’s comments on Wednesday was bought out yesterday and by now we’ve returned to the same positions as last week and are generally in the area of record highs. Anyway, we can’t say the same about the euro/dollar. Yesterday purchasing of dollars against the EU more…

FOMC is braver than expected

By GG Analyst in Reviews 0 Comment

EUR/USD

The Fed’s commentary provoked strengthening of the US dollar. Purchasing was caused mostly by the increased intention to raise the rate next year. It is not stated in the published forecasts, but observers have figured out that these forecasts speak about a possibility of the rate increase approximately in the middle of the next year. If actual and forecasted data differ significantly, the QE3 programme may be brought to a close already this year. Yesterday’s cut, as expected, made 10bln dollars. Besides, FOMC chose not to peg interest rates to the unemployment rate, but consider a wider range of indicators. Apparently more…

Markets are waiting for Yellen

By GG Analyst in Reviews 0 Comment

EUR/USD

The market showed a strange reaction to Putin’s speech yesterday. Market participants took positively that Russia didn’t lay claims on the rest of pro-Russian territories of the Ukraine and other post-Socialist countries. Stock markets unanimously set out in the upward direction, whereas the reaction of currencies was contradictory. The initial growth of the euro to 1.3940 (due to risk demand) was followed by a pullback and new intraday lows at 1.3880. If we exclude nervousness caused by the news, the pair has been staying at the same level since the beginning of the week. The focus of attention is expectedly shifting more…

Nervous buying

By GG Analyst in Reviews 0 Comment

EUR/USD

The US exchanges rocketed as risk-demand strengthened. Yet, not only the US markets did that. The sanctions, imposed by the West with regard to Russia, proved to be quite mild and apply only to a few Russian and Crimean officials. Of course, it is not the end, this afternoon the Russian president delivers a speech to the legislators, expressing his opinion on the issue. This will inevitably stir up outrage on the part of the USA and EU and entail new sanctions. But until then the single currency is enjoying floating above 1.39 and stock markets are enjoying good demand. Anyway, more…