Payrolls to confirm Bernanke’s words

By GG Analyst in Reviews 0 Comment

EUR/USD

Last week was probably the period of change for the dollar. The American currency has been moving down already since the beginning of July, when Bernanke gave a speech, disproving the expectations of the stimulus rollback in the near future. Last week we saw something different. Bernanke’s assurances were finally heard and accepted due to relatively poor employment statistics. According to the released data, in July the market added 162K of jobs – this is the smallest rate since March. However, the weak March was preceded by the abnormally strong February with its growth of 332K. Don’t be taken in by more…

Changes for the better

By GG Analyst in Reviews 0 Comment

EUR/USD

Forex trading on Thursday was very nervous. The difference between the intraday top and bottom made 130 pips. It’s noteworthy that the rally towards 1.3300 was supported by quite positive statistics from Europe, but the main movement took place in the US session and was spurred by shifts in the US debt market. The latter is heading for higher yield. The minimal 10-year treasury yield of 1.39% about a year ago is now quite far from the current rates, showing the yield of 2.57%. Don’t be surprised if soon last month’s high of 2.76% is broken through and a fresh high more…

EUR and GBP to test important resistances

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro/dollar remains in the uptrend. Last week the level of resistance moved from 1.3000 to 1.3050. And the resistance of bears is only at 1.3170 now. Technically,  a “flag” is forming. And usually it spills over into continuation of a trend. In our case, should 1.3170 be broken through with confidence, traders will get a buy signal with the approximate target at 1.3570, which is our long-term target. Talks about further growth will be sensible only after these levels are reached. Yet the ability of the single currency to stand firm above 1,36 seems to be more and more doubtful more…

America is spending. Again

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday trading in the currency market was going on under the flag of measured consolidation after recent fluctuations. The dollar index (DXY) has rolled back from the three-year highs, reached on Friday. Anyway, commentators are almost all unanimous in predicting the further dynamics of USD. The continuous stream of favourable news releases each time reminds of the upcoming end of bond purchases by the Fed. In addition to Friday’s data yesterday we got Consumer Credit statistics from the Federal Reserve. It was reported that the consumer debt growth in May made 19.6bln against the expected 12, having become twice as quick more…

The US labour market extends the dollar rally

By GG Analyst in Reviews 0 Comment

EUR/USD

Employment growth in the USA went beyond expectations in June and, as a result, caused a new tide of USD purchases. According to the released data, it grew by 195K, moreover, the growth rate in the previous month was revised up to the same figure (from 175K). April’s rate was raised even higher – to 199K. Thus, the report and accompanying revision painted a picture of a bit more vigorous growth in the labour market. It was enough for the attack on the dollar to continue and bring EURUSD to 1.28, where the trade stabilized. Now the trading range is still more…