The sunset of the Land of the Rising Sun

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency tried to demonstrate timid attempts to grow, but already this morning the pair quickly returned to the local lows. Behind yesterday’s purchases there was scarcely anything more than cautious desire to lock in profits after the preceding decline of the euro. For this reason EURUSD managed to reach only 1.3440, besides the daily low was just 15 pips below it. Now trading is held close to 1.3430 and promises to be as sluggish as yesterday due to absence of macroeconomic statistics. The opposite can be expected, perhaps, only if the US Consumer Confidence will be much different more…

USD has been bought beforehand

By GG Analyst in Reviews 0 Comment

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…

EUR is down against USD and GBP

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday bears intensified their pressure on EURUSD, pushing the pair down to the lowest levels since last November. Now trading is held close to 1.3460. Bulls simply didn’t have enough strength to buy out EURUSD at 1.3520, so the strong selling impulse sent the pair down and now the latter doesn’t hurry to rise from there. Softness of the ECB’s monetary policy (the recent rate cuts and preparations for TLTRO) combined with the cyclic slowdown of the economy after quite a decent growth in the first quarter don’t make the single currency the best candidate to grow. Besides, yesterday the USA more…

Forex is again trading sideways

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD still looks as if it was nailed to 1.3520. Yet, to be more exact, there were attempts to bring the pair above 1.3550, but they proved to be futile. Earlier, when risk demand was directly correlating with the pair’s performance, the increasing geopolitical risks put pressure on the euro until it caused growth of energy prices. However, now the divergence between the currency market and other asset classes looks more and more obvious. The convergence is observed only as far as the influence on the prospects of interest rates is concerned. The euro is not affected by the growth of more…

Possible Friday’s correction in USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The Malaysian plane crash over Ukraine put heavy pressure on the stock exchanges. Anyway,in Forex, particularly in EURUSD, the situation didn’t change much. Yesterday the pair was trading within the narrow range between 1.3515 and 1.3540. Earlier today (on the sale of Asian assets) the euro/dollar dropped to 1.3510, but soon it found support at the lows. Quite possibly, today we will again see a correction, which has become almost traditional for Fridays. Moreover, today there aren’t any important macroeconomic statistics scheduled for release either in Europe or in the USA. The market has been farmed out to traders, who can more…