EUR is expecting the Fed’s decision around the local highs

By GG Analyst in Reviews 0 Comment

EUR/USD

The consolidation of EURUSD yesterday eventually ended in with the break through the upper limit of the range, which led the pair to the daily high at 1.3381. Despite the fact that it is a really impressive scale for the move without reason, the bears immediately took it as an opportunity to sell the euro at a higher price. From the end of the New York session till the end of the Asian one the single currency was gradually depreciating. Now the rates are at 1.3350, which can become a good level of support. In the meantime, the market remains sluggish more…

The market is going for safety instead of USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The dissonance between the stock and Forex markets still persists. While the single currency hit a new high since late February, trading already at 1.3350, S&P 500 dropped to the levels of early May. The index futures has been declining for the last three days, thus showing that traders have reappraised the state of the US economy. Over the last couple of weeks there were enough indicators which made investors take off the rose-coloured spectacles. Naturally, against this background Europe is no longer the worst variant. Yet, the last rally has been too long. The reversal for growth began on May more…

USD is retreating

By GG Analyst in Reviews 0 Comment

EUR/USD

Just as we supposed in our yesterday’s review, the US employment statistics, being close to the market expectations, haven’t produced any influence on the recent trends. In other words, after a short consolidation the dollar has resumed retreating. At the beginning of the EU session today there was another attempt to attack 1.33, but it was repulsed at 1.3290. Already now the pair is trading in the area of its local highs. The latter in their turn are taking us closer to the levels observed last February. The pair’s performance since the end of April has been diametrically opposite to what more…

Uninteresting payrolls

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment report is considered to be one of the most unpredictable publications.  The market consensus is generally built on the basis of a great data spread, and the actual data very often differ much from it. Deep down, the forecasts were rather congested and the actual data proved to be close to the average market expectations. The release showed that employment grew by 175K against the expected 167K. The same with employment change in the private sector- it proved to be 178K against the forecasted 175K. The data were good enough to believe in the normal pace of growth more…

USD suffered because of PMI

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar suffered because of the poor statistics. First of all, Manufacturing PMI for May was significantly revised up. In Italy the index made 47.3 against 45.5 a month ago. In France it was raised from the same 45.5 to 46.4. In Germany – from 49.0 to 49.4. Manufacturing PMI for the euro zone totaled 48.3 against the first estimate of 47.8. Though the index is still below 50, reflecting a decline, it is possible to notice the general upward trend, lasting for about a year already. By contrast with it the market was surprised by a sharp plunge of more…