Keep calm and carry on

By GG Analyst in Reviews 0 Comment

EUR/USD

The pair is drifting within a very narrow channel, still leaving the gap of the beginning of the week unclosed. Yesterday during the Asian session it fell down to 1.3324, which is the lowest point of the week for now. Anyway, the pair managed to move off these lows and returned to the middle of the trading range – closer to 1.3350. It’s clearly seen that the market activity is dying down. More so, players for some reason don’t pay attention to economic statistics. Thus, yesterday’s economic sentiment for Germany and the eurozone proved to be better than forecasted – growth more…

USD is striving to offset yesterday’s losses

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s session, which didn’t abound in macroeconomic news releases, let the pair remain close to the weekly open for the most part of the day. Only during the hot US session players have expressed their desire to correct the growth. And before that the pair had hit the high at 1.3385. The news coming from the USA still prove to be slightly worse than expected. For example, yesterday it became known that industrial production had grown by 0.4% in August, which is worse than the expected 0.5%. The annual rate makes 2.7%, which is much weaker than 4% at early 2012 more…

Summers’ refusal boosted USD selling

By GG Analyst in Reviews 0 Comment

EUR/USD

Just like on Thursday, Friday’s trading got nowhere for EURUSD. The pair was drifting between 1.3250 and 1.3320. It happened since everybody already was in anticipation of the Fed’s decision, which will be announced only this week, and since there was no important news, which could push the market beyond the traded levels. Such news came out a bit later, at the weekend. Lawrence Summers withdrew his name as a candidate for Federal Reserve chairman, which let the markets fly up at the weekly opening.  The reason standing behind that is Summers’ advocacy of the stimulus rollback in a much nearer more…

Be careful, bulls

By GG Analyst in Reviews 0 Comment

EUR/USD

Americans were again raising the general demand for risks yesterday. As a result, without any particular reason, from the beginning of trading in America, growth of US corporate stocks (except for Apple) was pulling up EURUSD. Against the dollar the single currency grew above 1.3300, though consolidation in this area cannot be called strong yet. Earlier, in August, the pair was getting support at these levels, which may serve as a good reason for a fierce fight this time as well. Very often strong supports turn into strong resistances and vice versa. As we wrote yesterday, the European statistics is signaling more…

Draghi put pressure on the euro, Carney failed to put pressure on the pound

By GG Analyst in Reviews 0 Comment

EUR/USD

ECB chief Mario Draghi made it clear that he remains dovish at yesterday’s press-conference after the rate decision. When commenting the decision he pointed out that the Bank is ready to take action in case of need. These words gave rise to selling of the euro as traders had expected more optimistic comments after a series of positive data. However, Draghi explained that a couple of positive PMIs, which have just entered the positive territory, doesn’t imply large-scale growth of activity and doesn’t affect the Bank’s forecasts on the EU economy. Also Draghi is right repeating that he will keep the more…