USD got weaker as markets continued to pull back

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment statistics again fell short of expectations. On Friday it was reported that in January non-farm employment grew by 113K after increasing by 75K a month before. BLS pins some blame on bad weather and in this case the rates may be quite better next month. Yet, a month ago there were similar opinions, which eventually proved to be wrong. The good news is that the traditional revision of statistics added over half a million to the employment rate and the last year’s rate was revised up by 87K in total. The unemployment rate has again declined and now more…

Draghi is beginning to resemble Trichet

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro climbed quite high yesterday, after Draghi’s words that the monetary policy doesn’t need any adjustment now. The ECB is still confident in the positive effect of the November rate cut, but adds that it is not very visible yet. We’ve frequently mentioned that the currency markets suffered a period of even higher rates  of the euro short-term loan before the New Year Day. The impact of the decline by quarter of a percent can be noted only with other conditions being equal, which never happens in the market. And the unwillingness to take advantage of inflation slowdown to ease more…

Forex still can’t venture to attack important levels

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s hopes for a quick attack of dollar bulls failed. Though we were right in our forecasts regarding ZEW, the single currency didn’t manage to break through 1.3500 and during the Asian session today the pair grew to 1.3580, thus exceeding the daily high of Tuesday. As you remember, yesterday we supposed that Germany’s business sentiment would weaken, against the general expectations of growth. The actual data showed decline from 62 to 61.7 instead of growth to 64.0. Strictly speaking, the figures are not bad, at least they are not too poor so that the euro ram 1.3500. So, this event more…

Outlook for 2014: Part Two

By GG Analyst in Reviews 0 Comment

EUR/USD

The Asian stock markets showed some growth after the holidays, taking their lead from the US pre-Christmas positive mood. Yet, the yen is still under pressure. It hit a fresh five-year high against the dollar – at 104.82. AUDUSD also opened with a gap down. Probably, it is somehow interconnected as AUDJPY hasn’t demonstrated any changes – the cross opened at 93.06, where it had been before closing. So, no significant shifts. And it is quite reasonable as during the holiday time there wasn’t any important events. During the pre-Christmas trading session the dollar was in demand most of the time, more…

The dollar’s decline slows down

By GG Analyst in Reviews 0 Comment

EUR/USD

Though Wall Street is close to record levels, Forex has been rather quiet over the last 24 hours. While S&P 500 yesterday closed at the highest level in history, EURUSD failed to break even through the highs of Thursday night. The only achievement of bulls yesterday was that they managed to stop the correction at 1.30, taking the pair to 1.31. Well,  it’s not bad, taking into account that just a couple of days ago the pair was at the three-month low of 1.2750. Anyway, the market hasn’t yet built the present-day tempered attitude to the stimulus rollback in the rates. more…