Carney shook up the pound

By GG Analyst in Reviews 0 Comment

EUR/USD

As we  warned about at the beginning of the week, the dollar has commenced retreating. Lockhart’s and Evans’s claims provided only temporary support to the dollar. Further, other factors like improvement in Europe have come into the play. Technically, the dollar is affected by the fact that many currencies of the developing countries have become overbought over the preceding months. In such circumstances the US currency will find it hard to grow. The dollar is more willingly purchased in the times of uncertainty. And now we find more and more signs of faster growth of the developed economies. At least now more…

A trend change?

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency failed to break through 1.33 yesterday. The pair was being sold despite the fact that Final PMI for Europe proved to be more positive than expected before. EURUSD stopped growing at 1.3299 in the heat of the EU session and afterwards  was falling down to 1.3230 right till the beginning of the active US session. In its turn, ISM Non-Manufacturing PMI couldn’t support the dollar’s strength. It is a bit surprising as the index totaled 56.0, which was last seen only in February, and, in addition, proved to be much above the previous (52.2) and forecasted (53.2) rates. more…

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…

USD is falling in the news vacuum

By GG Analyst in Reviews 0 Comment

EUR/USD

Though with certain hesitations the single currency continued to move up yesterday. To be more exact, the US dollar continued its retracement. EURUSD in the heat of the US session rose above 1.3170 and even managed to hit a new high since July 11, however it wasn’t followed by an upward move. To some extent, it is connected with low trading activity in the absence of important macroeconomic news yesterday. Looking back at yesterday’s statistics, Existing Home Sales deserve attention. Against expectations, this indicator shrank to 5.07bln in June (at the seasonally adjusted annual rate), while it had been forecasted that more…