EUR &GBP: cautiously awaiting statistics

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency went as high as 1.3878. The bears, who had put pressure on the currency earlier in the day, were punished, but the higher movement could already be provoked only by serious reasons. There weren’t any, so trading stabilized at the neutral 1.3850. Market players behave quite cautiously now in anticipation of piles of  important statistics on Europe and the USA. Regarding trends, inflation data will be of utmost importance for the single currency. Tomorrow we expect the Preliminary EU CPI for April, and today we will get inflation statistics on the German Lands, which may also affect more…

Bulls try to heat up EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency was being purchased on Friday as if along a ruler. The euro/dollar was growing strictly within the narrow upward channel. It speaks not only about presence of big buyers, accurately picking up the pair, but also about absence of any idea in the markets. The pair remains in the grip of uncertainty of the ECB’s policy. Despite the inflation slowdown, in Germany as well, most members of the Bank’s governing board treat a rate cut or any other easing of the monetary policy as a certainly pernicious thing with economic growth in the background. Anyway, market participants keep more…

EUR to find strong buyers

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday ECB President Mario Draghi made a speech devoted to CBs’ communication during the period of crisis. It is very symbolic since the market feels difficulty with discerning the ECB’s signals. We constantly hear about a wide range of tools, which can be applied in case of need. In the meantime, inflation has slowed down to the lowest rates since 2009 and it is on assumption that, as opposed to that time, a year before the inflation rates were not increased. So, deflation forces are obvious. Yet, it is also obvious that the Committee members are at variance about the necessity more…

EUR to be talked down

By GG Analyst in Reviews 0 Comment

EUR/USD

The brief disappointment with the poor French statistics and further enthusiasm aroused by the German and EU data made yesterday’s European session quite volatile. After the release of the French data EURUSD tumbled down to 1.38, but then within an hour it grew by half a figure. However, bulls failed to hold even this level. By the end of the day the pair still slipped down towards 1.3815. After 10 days of flat trading the single currency seems to react more nervously to the news, but yet has enough strength to return to its former levels. It is all about absence more…

AUD tumbles down on low inflation

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro survived the bearish pressure. The support rate of 1.3790 held out, thus preventing a chain reaction in the exchanges and triggering of stop orders. Today we expect the release of April’s Flash PMIs, which makes the day really  important for the euro. According to the consensus forecast, the rates will generally remain unchanged in the eurozone, but are likely to grow in Germany. The services sector, in the meantime, is expected to show acceleration in all the key points. In other words, investors look forward to further extension of the recovery, which usually spreads from manufacture to the services more…