Canadian dollar returned back below 1.30

Canadian Dollar

EURUSD

The main currency pair on Forex continues its boring movement within side channel. Still traders cannot find reasons for a trend – positive or negative. Mainly, such passive attitude is explained by interesting movement of other currencies as well as absence of news-drivers for the market. However, it means that markets are generating power ahead the new sharp movement. We just have to understand which side movement is most possible, and where we will have only speculative trades. So, Friday news on wholesale inventories and sales caused the re-estimation of the USA GDP growth to declining. Now the leading investment banks more…

USD has been bought beforehand

EUR/USD

This week we expect a whole series of important macroeconomic news from the USA. It will all start with the release of the GDP data for the second quarter on Wednesday. Further the baton will be picked up by the FOMC’s decision on QE and interest rates and by employment stats on Friday. The GDP is expected to show impressive growth against the recovery after the disastrous first quarter in the background. The Fed will hardly suggest anything new except for the 10-billion tapering of the asset purchasing programme, but traders and investors will still look for hints at the earlier more…

USD’s attack on EUR

EUR/USD

The single currency was depreciating all day long yesterday. The pair managed to stop its decline only close to 1.3520. Now trading is held about 10 pips above this local low. Despite the fact that the considerable part of the decline occurred after Yellen’s speech before the Congress on Tuesday, it is hard to find connection between these events as other currencies don’t show such dynamics. The cable, the Aussie and the yen suffered some losses yesterday and the Loonie didn’t manage to grow. The reason for the pressure put on the euro is seen in the policy easing in the more…

Degrading US GDP for 1Q

EUR/USD

Yesterday’s data on the US GDP proved to be a real disaster and caused weakening of the US currency. Often the final (third) estimate of the US GDP doesn’t bring any significant changes, but this time the annualized growth rates were considerably revised down to -2.9%. Yet, the expected decline made only 1.8%. A month ago it was reported about the decrease by 1.0% and initially – about growth by 0.1%. Thus, with time the GDP estimate for the first quarter has deteriorated. Many experts, including the Fed’s members, think that it is an extremely retrospective view as it considers a more…

Soft pressure on the euro

EUR/USD

The single currency is trying hardest to catch at 1.36. Yesterday it slipped from 1.3668 to 1.3585 in the course of the sluggish EU session. The only thing which prevented it from further  decline was strengthening of risk demand that was supporting the US exchanges. Whatever skeptics say about the minimum effect of the ECB’s measures on the euro, it still exists. In the currency market the rates have shifted from the euro to the dollar, so in the quiet market we see prevalence of gradual  euro selling in favour of the US currency. The latter will function more as a more…