Testing new levels

By GG Analyst in Reviews 0 Comment

EUR/USD

Wall Street finished one more day at record levels. Stocks are still being supported by favourable US statistics and bulls seem not to worry about the upcoming tapering. As if the festival could last forever. Yes, they’ll think about all this and the payback later and today the US markets are celebrating Thanksgiving Day, so there will be little activity in the afternoon. Yesterday’s purchasing of US assets was boosted by the quite strong data on weekly unemployment claims. They decreased to 316K despite the expected growth from 326 to 331. This index has almost completely recovered from the upsurge in more…

The markets quickly recovered from the meeting minutes

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency couldn’t stay below 1.3400 for long. Bulls came to their senses and under the cover of the favourable EU statistics were purchasing the euro. The poor rate of France’s Manufacturing PMI (47.8 against the expected 49.6) was pushed into the background by Germany’s manufacturing stats, which proved to be better than forecasted (52.5 against the expected 52.3). The services sectors of these countries also performed below and beyond expectations accordingly. The flash index for the entire eurozone hit the level of 51.5 in November, which  is slightly better than the October rate of 51.3 and slightly worse than more…

QE is getting out of date

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD is already testing the resistance at 1.3550. Actually, the pair has already managed to go above this level, but yet it is too early to celebrate victory over this resistance. Anyway, the fact remains that the pair is still gradually purchased. There hasn’t been much news since the beginning of the week, so the market mechanically has continued the same trend. Today it is worth paying attention to the US inflation and retail sales statistics. Existing Home Sales are also noteworthy. It will be statistics for October, when a part of government services were closed for more than two weeks. more…

Forex disregards Yellen’s softness

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD remains in the uptrend. But yesterday it seemed that we turned on a serious resistance at 1.35. Thus, on the one hand, we’ve got a series of ascending intraday lows, but on the other hand bears are putting up strong resistance at 1.35.  By the end of the week the market has stuck somewhere in between 1.3418 and 1.3490, which were hit during the European and US sessions (now it is 1.3450). It’s remarkable that for all that stock exchanges don’t feel any confusion. For them the situation is pretty clear. The next chairman of the Fed, Janet Yellen, is more…

Central banks’ games

By GG Analyst in Reviews 0 Comment

EUR/USD

Concluding from the recent speech of Janet Yellen, the new chairman of the Fed promises to be even milder than Bernanke. In the comments, prepared for today’s report to the Senate Committee, she says that yet the Fed has got lots of various means to support the economy and the labour market, which are now far from the potential rates. Upon the whole she believes that now it is necessary to provide as many incentives for growth as possible in order to return to the normal mode of the monetary policy. In this case we see a striking difference between the more…