The strong payrolls didn’t help USD grow against EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

And again the euro is growing despite the news. The preceding eventful week ended with the US employment stats. The November report met the market’s high expectations and even surpassed them somewhere, but failed to produce any continuous effect on the euro, which eventually grew against USD. Now the euro/dollar is above 1.3700, which is the highest level since the end of October and within the reach of a long-term resistance (1.3750). This resistance is rather conventional, so we can hardly expect a burst of activity, should it be broken. The previous highs (1.3785, 1.3815, 1.3830) are of more importance now. more…

All attention to the stats

By GG Analyst in Reviews 0 Comment

EUR/USD

Monday’s selling interest was not spurred yesterday. The market is back at the week’s opening level. However, all the attempts to consolidate above 1.3600 proved to be futile. The pair rose as high as 1.3613 and rolled down below 1.36 while the Asian stock markets were going through a correction. The stock exchanges went into profit-taking after reaching the six-year high in Nikkei and the US stocks continued to decrease as expectations in regard to QE had been revised. This is what we have been preparing you for so long. The US central bank, in theory, can cut the volume of more…

It’s all the opposite in Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

The first trading session of December was marked with heavy pressure of the dollar. The attempts of the single currency to consolidate above 1.36 stumbled over selling pressure. It’s remarkable that the news coming from the eurozone was not bad. The final releases for some countries and the single estimate for others either exceeded the expectations or met the forecasts. Spain was a small exception – its manufacturing sector shrank unexpectedly (the index fell below 50 to 48). Anyway, as earlier the poor EU statistics didn’t prevent the single currency from growing, so yesterday the relatively favourable data didn’t interfere with more…

The unstoppable pound

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday trading was mainly held within a very narrow range. The only exception was when EURUSD tumbled down by 20pips in the first hours of the US session. This movement was false as it occurred only because most traders hadn’t entered the market, taking another day off after Thanksgiving. The pair returned to Friday’s levels, that is 1.3600, just over a couple of hours after the Asian session had begun. This week promises to be very eventful. Both the ECB’s meeting and the US employment statistics are scheduled for it. These two events have been provoking the strongest volatility recently. more…

When sentiments are more important than the real economy

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro kept appreciating even during the holiday trading session for Americans. The single currency remains in demand due to expectations of favourable EU statistics. A month before the sudden decline in inflation gave rise to hopes for the possible rate cut by the ECB and other incentives. As a result, the benchmark interest rate was reduced, which dealt a blow to the single currency. By now the euro has overcome the consequences of the heavy selling aroused by the rate cut and by the claims of the ECB officials that the council was considering negative rates as further incentives. Anyway, more…