FOMC hasn’t clarified the prospects

By GG Analyst in Reviews 0 Comment

EUR/USD

The US Federal Open Market Committee tried to avoid in its comments clear hints at the time when tapering would start. Yet, absence of evident concerns regarding the economy let bears gain the upper hand. Stock markets received a severe blow, which is now echoing in the Asian and European markets. S&P 500 shifted away from the global highs, losing more than a percent. Straight after the release EURUSD dropped by 85 pips, below 1.37, where it remains now by the beginning of the EU session. The Fed again expressed its desire to see stronger signs of economic growth before withdrawing more…

Correction to precede the Fed’s commentary

By GG Analyst in Reviews 0 Comment

EUR/USD

The US stock markets have halted their upsurge and Forex has recouped some of the dollar’s losses. Thus, EURUSD declined by 15pips to 1.3785 over the day, thus breaking the series of ascents. It is also remarkable that bears tried to break lower and hit a 5-day low at 1.3768 during the Asian session. The market cautiousness can be attributed to closeness of the FOMC’s meeting. It is to start today and tomorrow we will learn the decision. The market participants do not expect any changes, but are cautiously getting ready to hear the new commentary of the Fed. Some, including more…

Roller-coaster

By GG Analyst in Reviews 0 Comment

EUR/USD

The payrolls caused much trouble to the dollar. The employment stats were poor enough for the market participants to sweep away all thoughts about the stimulus tapering by the Fed in the near future. Yet, the negative news on the labour market didn’t drive the markets into pessimism as stock markets were growing. The US dollar tumbled down to the 23-month low against the euro. From Tuesday’s low of 1.3660 EURUSD has already grown to 1.3790. According to the published statistics, the number of new jobs increased by 148K against the expected 180K.  The unemployment decrease to 7.2% again occurred due more…

Classic Forex market

By GG Analyst in Reviews 0 Comment

EUR/USD

Lull in Forex is accompanied by across-the-board growth of stock exchanges. At the end of the previous week the single currency tried to continue its upsurge towards the yearly highs, but was stopped at 1.3700. The bears managed to go off these levels by 30pips and since then the currency has been trading mainly there. In the meantime corporations from around the world are accounting for their profits. They demonstrate quite good results, which together with the opening of the US government and fewer risks of the QE curtailment creates a favourable environment for purchases of risky assets. One more observation more…

Denying to the last

By GG Analyst in Reviews 0 Comment

EUR/USD

It’s a funny thing: already today the debt ceiling negotiations should come to the end otherwise default will occur already tomorrow, but for all that the markets manage to see the positive in the news from Washington. They are merely denying the problem. From the psychological point of view, the markets are just at the first stage – denial – and they still have to go through anger, bargaining, depression and acceptance. Yet, the other stages will scarcely be favourable for stock indices and the US dollar. Now the most probable way out is seen in another compromise with the debt more…