USD falls on a quarterly rebalancing

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday bulls managed to warm up the euro/dollar so much that the pair crossed the 200-day MA. There were even attempts to catch hold of 1.37, yet they proved to  be futile as there were no reasons for such a movement. Generally speaking, yesterday’s growth of the pair was more of ‘against’ than of ‘due to’. The German retail sales fell by 0.6% in May instead of growing by 0.8% as expected. That was ignored by the markets this time, though earlier the markets had met the index with anxiety. The preliminary inflation estimate in June proved to be weaker than more…

USD: a step back

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency feels quite confident. At least it is strong enough to get above 1.3600. Yet, it should be noted that the attempts to fray nerves of the 200-day MA haven’t been crowned with success. For now. On Thursday the pair got to 1.3642 and on Friday – to 1.3633 with the daily closure at 1.3600, just like now. And the 200-day MA has now risen to 1.3660 against 1.3630, when it tested that important technical level in May. The pair’s strength is mainly explained by certain disappointment of investors in the dollar. The Fed’s members don’t hurry with the more…

EUR is sold while growing

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro’s shy attempts to recoup its losses on Friday faced a serious obstacle. While there’s no clear-cut downtrend in the pair, bulls don’t seem to be very strong either. The situation looks as though below its 200-day MA the euro was sold on upward bounces instead of being purchased on the dips as it has been in the previous months. If only bulls were as strong as before, they would, most likely, take advantage of the poor US statistics, released last week. Thus, Thursday’s publication of the retail sales data reported growth by 0.3% in May against the expected 0.5%-0.7%. more…

EUR keeps crawling down

By GG Analyst in Reviews 0 Comment

EUR/USD

The European session began with the fresh pressure on the single currency. Before the release of Final Manufacturing PMI the euro had been pushed from 1.3640 down to 1.3590. Most likely, it had been connected with the earlier reaction of the market to the inflation statistics in the German lands, which at the end of the day was to form into the overall picture. Then it turned out that the actual data failed to meet the forecasts, so the euro’s decline was accounted for by fundamental factors. The EU Services PMI in May was revised down to 52.2 instead of the more…

Losses of EU currencies

By GG Analyst in Reviews 0 Comment

EUR/USD

Spurred by the increased demand for US assets, EURUSD fell down to a fresh three-month low at 1.3587. Investors’ outflow from the sterling looked really remarkable – it was going on simultaneously and was even more conspicuous. And all this happened without any clear signals of weakness in the eurozone as well as in Britain. This state of affairs sends us to seeking reasons outside Europe. The price of US stocks, in the meantime, is rallying and remains in the overheated zone. There is a feeling that EU currencies are losing investors right to ensure stock purchasing in the USA and more…