Unannounced intervention of RBNZ

By GG Analyst in Reviews 0 Comment

EUR/USD

The end of the previous week and the beginning of this eventful week passed under the banner of USD’s growth against EUR. Against our expectations of rebalancing, the pair hit fresh multi-year lows. Now trading is held near 1.2675, which hasn’t been seen since November 2012. However, taking into account that then the low of 1.2662 didn’t exist for long, the current levels can be confidently called the lowest ones since September 2012. This week the major risk for the pair is posed by the ECB’s regular meeting and the following press-conference and also by the US employment statistics for September. more…

USD doesn’t hurry to give in

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro tried, but failed to attack the dollar yesterday. The relatively good PMI stats for Germany and France didn’t help the eurozone to surpass expectations in all indicators. Now the market has a great set of facts and statistics on big countries at its disposal, though special attention should be paid to small ones. Now Germany is the one to carry the overall performance of the eurozone.  The Services PMI has grown to 55.4 in September instead of the expected slowdown from 54.9 to 54.6. In its turn it helped the Composite PMI grow against the rate of the previous more…

The silence of G20 enables JPY to depreciate

By GG Analyst in Reviews 0 Comment

EUR/USD

Last weekend there was held a meeting of G20 central bank governors and finance ministers. The representatives of the largest countries, constituting about 85% of the global economy, focused on stimulation of economic growth. Nothing was said about currency movements. Thus, the current rally of the dollar received a tacit approval, so the bulls may gain the lead, at least for a while. Now USDX is trading near its two-year highs. Then growth of the dollar was explained by weakness of the single currency. And now it is USD’s rally, aroused by expectations of the monetary policy tightening and of impressive more…

The Fed needs to be more cautious

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency fell under pressure and dropped below the support line of the short-term uptrend. Yet, in the afternoon it found support near the lows of the preceding day due to the poor stats from the USA, which saved the pair from further selling. The EU trade balance statistics proved to be contradictory. The seasonally adjusted surplus fell short of the expectations, making €12.2bln against the forecasted 15.9 and the preceding value of 13.8bln. But for all that, the non-seasonally adjusted value of the indicator reached the impressive 21.2bln against the expected 10.5 and the preceding value of 16.7. more…

AUD is crushed by slowdown in China

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro-bulls still hope to offset at least a part of the dollar’s appreciation. On Friday they managed to take the pair up to 1.2980. But at these levels the pair found enough buyers, which threw it off closer to the middle of the traded range. The short-term support, which appeared last week, still works, showing signs of a feeble uptrend. Probably, it will become stronger if the EU statistics are favourable and the US ones are poor. The EU trade balance can be one of such news. It has been steadily high in the recent months due to the economic more…