Bears gradually gain the upper hand

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro-bears got the upper hand. The risk-aversion in the markets didn’t pass by EURUSD, which sank to 1.3015 yesterday closer to the end of the active New-York session. The explosions at the Boston Marathon also had their share here. For now three people are reported dead and about a hundred injured, actually this is the first terror attack since September 2001. Now there are certain concerns that the blasts will be followed by a continuous reaction of the USA, of course at a smaller scale than the intrusion into Iraq, but anyway it is certain to arouse stronger militaristic sentiments more…

Bearish Gold market

By GG Analyst in Reviews 0 Comment

EUR/USD

Friday’s correction in the markets must have made many feel nervous: at some moment EURUSD sank down by a figure from the highs of the Asian session – to 1.3030. Anyway, by the end of the trading day the single currency had managed not only to recoup its losses, but also hit a new intraday high. The bulls managed to close the week above 1.31. Yet the bears got somewhat stronger already during today’s session in Asia. Almost the whole package of China’s statistics proved to have fallen short of expectations, which forced the markets  to hastily liquidate risky positions and more…

Unsteady growth of EURUSD

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro bulls were very close to breaking through 1.31 yesterday. The uptrend in the euro can tell favourably on the demand for debt securities of the EU troubled countries. Another positive fact from the technical viewpoint is breaking through the 200-day MA, which happened last Thursday in the volatile session after Draghi’s speech. Besides, strengthening of the single currency goes in line with our opinion regarding Forex and its cycles. The fundamental data keep us from recommending to stake everything on buying the currency. First of all, we have a continuous uptrend of the US stock markets, which may start more…

Bernanke spurred decline of the dollar

By GG Analyst in Reviews 0 Comment

EUR/USD

The safe assets keep depreciating. In addition to weakness of the Japanese yen, the US dollar has been falling against the euro for five days in a row. This morning Ben Bernanke has added fuel to the fire, saying that the economic conditions are still far from what he would like them to be. Such words have been immediately taken by the markets as a signal that the FOMC will not hurry to terminate the asset purchasing programme. The thing is that unlike the BOE, where the chairman may for several meetings in a row be in the minority, in the more…

Sad payrolls

By GG Analyst in Reviews 0 Comment

EUR/USD

The published employment statistics showed that the warning signals of other indicators earlier last week had been absolutely correct. According to the latest labour market report  the number of jobs in the USA grew just by 88K against the expected 190K. In line with the recent correlations the US dollar was falling on the poor stats. The single currency went above 1.30 at some point, which had been last seen only on March 25. Now the euro is trading slightly below this level – at 1.2990. In the meantime, the US exchanges were in correction. Maybe it is too early to more…