USD correction. Day two

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the US dollar was evenly appreciating during the day. The bulls’ attack, which drove EURUSD from 1.3755 to 1.3815, proved to be short-term. It occurred when ECB Governing Council member Ewald Nowotny told MNI that the ECB would have to put up with the strong euro as it doesn’t have any tools to combat it. Soon the downtrend resumed and the pair closed the day at 1.3740. Now the downward movement is still going on and the local low has been set at 1.3730. Quite likely, the bearish attack will be getting momentum. The dollar’s appreciation is mainly connected with more…

Correction to precede the Fed’s commentary

By GG Analyst in Reviews 0 Comment

EUR/USD

The US stock markets have halted their upsurge and Forex has recouped some of the dollar’s losses. Thus, EURUSD declined by 15pips to 1.3785 over the day, thus breaking the series of ascents. It is also remarkable that bears tried to break lower and hit a 5-day low at 1.3768 during the Asian session. The market cautiousness can be attributed to closeness of the FOMC’s meeting. It is to start today and tomorrow we will learn the decision. The market participants do not expect any changes, but are cautiously getting ready to hear the new commentary of the Fed. Some, including more…

EUR is moving up regardless of economic slowdown

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency hit fresh two-year highs against the dollar. Yesterday’s high made 1.3824. It is remarkable that the market should be so persistent, purchasing the euro. The thing is that Flash PMIs for France, Germany and the whole eurozone proved to be much worse than expected. Instead of increasing the French manufacturing activity shrank even more, which is reflected in the drop of the index from 49.8 to 49.4 against the expected 50.3. In Germany the situation is a bit better, but the index still failed to meet the expectations. The Manufacturing PMI rose to 51.5 against the forecasted 51.6. more…

Roller-coaster

By GG Analyst in Reviews 0 Comment

EUR/USD

The payrolls caused much trouble to the dollar. The employment stats were poor enough for the market participants to sweep away all thoughts about the stimulus tapering by the Fed in the near future. Yet, the negative news on the labour market didn’t drive the markets into pessimism as stock markets were growing. The US dollar tumbled down to the 23-month low against the euro. From Tuesday’s low of 1.3660 EURUSD has already grown to 1.3790. According to the published statistics, the number of new jobs increased by 148K against the expected 180K.  The unemployment decrease to 7.2% again occurred due more…

Classic Forex market

By GG Analyst in Reviews 0 Comment

EUR/USD

Lull in Forex is accompanied by across-the-board growth of stock exchanges. At the end of the previous week the single currency tried to continue its upsurge towards the yearly highs, but was stopped at 1.3700. The bears managed to go off these levels by 30pips and since then the currency has been trading mainly there. In the meantime corporations from around the world are accounting for their profits. They demonstrate quite good results, which together with the opening of the US government and fewer risks of the QE curtailment creates a favourable environment for purchases of risky assets. One more observation more…