Temporary retreat of USD

By GG Analyst in Reviews 0 Comment

EUR/USD

EUR continued its upsurge yesterday. After a futile attempt to take the pair below 1.36 on Thursday morning, it shot up by almost a figure. Last night there were other attempts to reach 1.37, which also failed. The bullish mood of the market is seen in the decreasing pullbacks after reaching the upper mark. It is largely a consequence of the generally positive mood in the stock exchanges, where the US and EU assets are in good demand. Our downtrend has been finally broken. Now the euro/dollar is trading mainly flat, judging by the line of resistance. The support line, on more…

Changeable fortune

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro got a hard blow yesterday, losing 90pips during the day. The selling was caused by  Coeure’s speech, which pointed out that the BOE’s officials seriously considered setting a negative deposit rate at the last meeting. Besides, we shouldn’t forget about technical factors. The pounds growth triggered by the BOE’s comments broke the short-term uptrend in EURGBP, which eventually spilt over into selling of the euro against the pound, observed in other pairs as well. The euro’s pullback finally brought the currency back into the downtrend, which has already been frequently mentioned in our reviews. Before that on Tuesday  we more…

Yellen stopped growth in EUR, but not in the markets

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency didn’t venture to attack 1.37 on Tuesday. Growth was impeded by the market’s anticipation of further tapering by the Fed. It’s noteworthy that Yellen’s claims were quite reserved and generally in line with the traditions of the obscure rhetoric acquired by the Fed’s presidents.  She remarked that should the recovery go on at a forecasted rate, the QE will be curtailed with the current pace (by 10bln monthly). In the meantime, stock traders took her comments optimistically, getting themselves into eager selling. Since the beginning of February the market has recouped three fourths of the losses incurred at more…

EUR is a step off 1.37

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar keeps depreciating as demand for risky assets is growing. As before the risk demand spurs across-the-board depreciation of the dollar and renders great support to commodity prices. EURUSD managed to get above 1.3650, where from it slipped down at the end of January. Then the pair felt pressed due to expectations that the ECB would soften the monetary policy considering inflation easing. As it turned out, all in vain. The ECB doesn’t seem to hurry with easing of the monetary policy, referring to improvement in the performance of the eurozone. Moreover, one of the main threats of the more…

USD got weaker as markets continued to pull back

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment statistics again fell short of expectations. On Friday it was reported that in January non-farm employment grew by 113K after increasing by 75K a month before. BLS pins some blame on bad weather and in this case the rates may be quite better next month. Yet, a month ago there were similar opinions, which eventually proved to be wrong. The good news is that the traditional revision of statistics added over half a million to the employment rate and the last year’s rate was revised up by 87K in total. The unemployment rate has again declined and now more…