It’s all the opposite in Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

The first trading session of December was marked with heavy pressure of the dollar. The attempts of the single currency to consolidate above 1.36 stumbled over selling pressure. It’s remarkable that the news coming from the eurozone was not bad. The final releases for some countries and the single estimate for others either exceeded the expectations or met the forecasts. Spain was a small exception – its manufacturing sector shrank unexpectedly (the index fell below 50 to 48). Anyway, as earlier the poor EU statistics didn’t prevent the single currency from growing, so yesterday the relatively favourable data didn’t interfere with more…

The unstoppable pound

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday trading was mainly held within a very narrow range. The only exception was when EURUSD tumbled down by 20pips in the first hours of the US session. This movement was false as it occurred only because most traders hadn’t entered the market, taking another day off after Thanksgiving. The pair returned to Friday’s levels, that is 1.3600, just over a couple of hours after the Asian session had begun. This week promises to be very eventful. Both the ECB’s meeting and the US employment statistics are scheduled for it. These two events have been provoking the strongest volatility recently. more…

When sentiments are more important than the real economy

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro kept appreciating even during the holiday trading session for Americans. The single currency remains in demand due to expectations of favourable EU statistics. A month before the sudden decline in inflation gave rise to hopes for the possible rate cut by the ECB and other incentives. As a result, the benchmark interest rate was reduced, which dealt a blow to the single currency. By now the euro has overcome the consequences of the heavy selling aroused by the rate cut and by the claims of the ECB officials that the council was considering negative rates as further incentives. Anyway, more…

Testing new levels

By GG Analyst in Reviews 0 Comment

EUR/USD

Wall Street finished one more day at record levels. Stocks are still being supported by favourable US statistics and bulls seem not to worry about the upcoming tapering. As if the festival could last forever. Yes, they’ll think about all this and the payback later and today the US markets are celebrating Thanksgiving Day, so there will be little activity in the afternoon. Yesterday’s purchasing of US assets was boosted by the quite strong data on weekly unemployment claims. They decreased to 316K despite the expected growth from 326 to 331. This index has almost completely recovered from the upsurge in more…

From zero interest rates down to negative ones?

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD is getting closer to last week’s highs, again trying to consolidate above 1.3550. From the technical viewpoint, there are no serious resistances right up to 1.3750/80. Last week the pair couldn’t go higher because of Bloomberg’s article about possible introduction of the negative deposit rate in the ECB and because of the following release of FOMC’s meeting minutes. These minutes also pointed out a possibility of negative rates on the Fed’s excess cash. Today the markets are worried about the following news: the biggest US banks wrote that should negative interest rates on excess cash be introduced they would be more…