It’ll be hard for payrolls to strengthen USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The ECB with Draghi at the head didn’t suggest any new incentives or ways to stimulate money supply in the eurozone yesterday, moreover they made it clear that the issue didn’t have any discernible outline even in the discussions. In this connection purchasing of the single currency was an understandable and justified reaction of the market. As a result, since the beginning of the press-conference the euro/dollar has grown by about a percent and is trading at the five-week high of 1.3670. But for the strong US statistics, it could be much higher. Yesterday’s statistics proved to be much better than more…

Ambivalent Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets are still moving in different directions. The single currency is strong enough to recover, while the stock markets are in the red zone. Yesterday the euro dropped to 1.3530 for a while, but now it is again attacking 1.3600. The currency’s fall was spurred by the ADP’s favourable employment statistics. In November the non-farm employment grew to 215K (against the expected 172). Besides, the rates of October and September were revised up, together making by 94K more than estimated before. This revision has brought ADP’s data closer to the official statistics, which have been showing higher rates recently. This more…

Ready for vigorous movements?

By GG Analyst in Reviews 0 Comment

EUR/USD

Stock markets continue their upsurge. For advocates of technical analysis it should be important that EURUSD closed the week above 1.3500 and even went beyond the starting level of Wednesday’s correction. At the same time stock markets managed to close near the psychological levels of 16000 and 1800 in Dow and S&P 500 accordingly. It happened due to the favourable US statistics combined with rather dovish claims of the Fed’s high officials. Yet, as you remember, the euro ran a correction on the comments about possible introduction of the negative deposit facility rate by the ECB and the Fed’s minutes, according more…

The markets quickly recovered from the meeting minutes

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency couldn’t stay below 1.3400 for long. Bulls came to their senses and under the cover of the favourable EU statistics were purchasing the euro. The poor rate of France’s Manufacturing PMI (47.8 against the expected 49.6) was pushed into the background by Germany’s manufacturing stats, which proved to be better than forecasted (52.5 against the expected 52.3). The services sectors of these countries also performed below and beyond expectations accordingly. The flash index for the entire eurozone hit the level of 51.5 in November, which  is slightly better than the October rate of 51.3 and slightly worse than more…

It’s getting hot in the stock market before the holiday season

By GG Analyst in Reviews 0 Comment

EUR/USD

Forex-bulls are getting stronger and growth of the stock market in the absence of other important news is pulling the dollar down. All through the previous week EURUSD was recovering from the blow it had received on the interest rate cut at the beginning of November. But as we live at the time when interest rates around the world are close to zero, the ECB’s cut of the deposit-facility rate and of the refinancing rate by 0.25bp resulted in the reduction of the currency market interest rates by just a few percent points. Thus, to achieve the necessary effect Draghi will more…