Roller Coaster

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency was put under heavy pressure after the release of Germany’s inflation data. EURUSD dipped down to 1.3800, formally leaving the gap uncovered: the high was hit at 1.3878. As expected, Germany’s consumer inflation proved to be lower than forecasted by the experts at the beginning of the week. The annual rate of price growth in the largest German economy made 1.3% against the expected 1.4%. This acceleration against last month’s 1.0% y/y was provoked purely by the low base effect as in April the prices tumbled by 0.2%. The ECB members often say that the long period of more…

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…

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…

Volatility down

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the players stirred the market just a little, leading EURUSD beyond the ranges of Friday.  In the low-volume market the pair still rose to 1.3829, but then came under pressure and went down to 1.3790. Apparently, the market players aimed at hitting the stop-order levels, thus causing intense volatility with low volumes. However, in general the market remained within the range and now trading has stabilized at 1.3800. This day doesn’t promise to be volatile either as the only important release scheduled for today is that on Existing Home Sales in the USA. It is expected that the latter will more…

Resistance to USD growth

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the US assets were again in demand. While stock exchanges were recouping the losses incurred at the end of the previous week, the US dollar was trying to partially offset the earlier losses. EURUSD fell down to 1.3790 yesterday, but soon it found buyers, who brought it back above 1.3800. Those market forces once again disabled taking control over the dollar despite the strong inflation data. CPI grew to 1.5% y/y against the supposed 1.4% and 1.1% a month ago. It is also remarkable that the core indicator, that with food and energy excluded, also returned to 1.7%, which was more…