Still cherish hopes for the politicians?

By GG Analyst in Reviews 0 Comment

EUR/USD

The day which had promised to be quiet turned into a big rally for the stock exchanges and risk-sensitive currencies.  The rally was spurred by Obama’s assurances that the fiscal cliff issue would be settled in the near future. As a result, S&P closed six sessions in a row with significant gains, though on Wednesday and Thursday it looked as if the growth impulse petered out. As expected, the struggle for 1.29 in EURUSD was rather fierce. Eventually, at the height of the EU session the bears gave in, thus allowing the pair to grow further. The euro had almost managed more…

Stats are getting better, but the markets are still on the defensive

By GG Analyst in Reviews 0 Comment

EUR/USD

The US markets kept falling yesterday, but it already didn’t mean much for the euro. Going down to 1.2715, EURUSD hit its 2-month low. However, by the end of the day the pair had stabilized around 1.2745 and at the beginning of active trading in Asia jumped up to 1.2780. Now it keeps trading here (above Thursday’s highs). The eventfulness of the day (numerous statistics and the decisions of two CBs) didn’t develop into any high volatility in the markets. Draghi’s comments were moderately optimistic. He noted that the outflow of capitals from the suffering countries’ banks changed into the inflow more…

Instead of launching QE3 FOMC may just indicate its parameters

By GG Analyst in Reviews 0 Comment

EUR/USD

Commonly the opinions of markets and economists coincide. Eventually, the latter give their recommendations to traders, who thereafter shape the market. But sometimes it is different and now is just the case.  On drawing near the FOMC’s conference, economists feel more and more eager to announce the parameters of new purchases. Yet, many believe that these large-scale purchases won’t take place in September.  We’ve already mentioned that the current situation is not as bad as it was during the previous 2 launches of QE. It would be more correct to say that there exist many threats to the further growth, which more…

Correction after the cyclic maximum

By GG Analyst in Reviews 0 Comment

EUR/USD

On Thursday the markets again performed out of concord. The single currency grew and the stock exchanges, on the contrary, depreciated, unveiling the unsteadiness of the four-year highs hit earlier this week. The mood of stock exchanges was spoilt by the statements of the Fed’s members, who split over the future of the incentives. Charles Evans, a traditional dove, called for the further stimulation of the economy. James Bullard, who actually belongs neither to hawks nor to doves, on the contrary asserted that there was no urgent need in incentives. The important thing here is not so much the comments as more…

Markets come into motion

By GG Analyst in Reviews 0 Comment

EUR/USD

It seems that markets, including Forex, are finally waking up from the summer siesta. Since our previous review the single currency has gained half a point from 1.2350 to 1.2490. At night EUR corrected a bit and is now trading at 1.2460.Thus, the issue with the stability of the upward channel is settled. Should the pair continue growing, we will probably see it near 1.26 even before the end of this week. Turning to the news background, we cannot single out any particularly important event, so the current motion is sure to have the technical nature. The similar breakthrough could be more…