The strong payrolls didn’t help USD grow against EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

And again the euro is growing despite the news. The preceding eventful week ended with the US employment stats. The November report met the market’s high expectations and even surpassed them somewhere, but failed to produce any continuous effect on the euro, which eventually grew against USD. Now the euro/dollar is above 1.3700, which is the highest level since the end of October and within the reach of a long-term resistance (1.3750). This resistance is rather conventional, so we can hardly expect a burst of activity, should it be broken. The previous highs (1.3785, 1.3815, 1.3830) are of more importance now. more…

From zero interest rates down to negative ones?

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD is getting closer to last week’s highs, again trying to consolidate above 1.3550. From the technical viewpoint, there are no serious resistances right up to 1.3750/80. Last week the pair couldn’t go higher because of Bloomberg’s article about possible introduction of the negative deposit rate in the ECB and because of the following release of FOMC’s meeting minutes. These minutes also pointed out a possibility of negative rates on the Fed’s excess cash. Today the markets are worried about the following news: the biggest US banks wrote that should negative interest rates on excess cash be introduced they would be more…

Ready for vigorous movements?

By GG Analyst in Reviews 0 Comment

EUR/USD

Stock markets continue their upsurge. For advocates of technical analysis it should be important that EURUSD closed the week above 1.3500 and even went beyond the starting level of Wednesday’s correction. At the same time stock markets managed to close near the psychological levels of 16000 and 1800 in Dow and S&P 500 accordingly. It happened due to the favourable US statistics combined with rather dovish claims of the Fed’s high officials. Yet, as you remember, the euro ran a correction on the comments about possible introduction of the negative deposit facility rate by the ECB and the Fed’s minutes, according more…

The broken attack on USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment statistics proved to be favouable, though all the short-term growth potential of EURUSD had been “eaten away” by the market movement a day before. As a result, the dollar bulls failed to bring the pair below the lows of the previous day, yet the decline from 1.3435 to 1.3312 can hardly be called unimpressive. So, what was good about the employment statistics? First of all, the number of new jobs in October exceeded 200K (204), moreover the rates of the preceding two months were also revised up. Thus, the average rate for the last three months is also more…

The need and chance for easing by ECB

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday USD purchasing continued and only on Monday we could see some stabilization. However the latter had been preceded by a serious attack on the euro during the Asian session, due to which EURUSD had tumbled down to 1.3440 at some point. It happened on reaction to the words of FOMC’s Richard Fisher, who criticized the US government for impeding the recovery. Anyway, the single currency found strong support at the level of its 7-week lows. The thing is that the pair has been purchased more than once at 1.3470 since the end of September. Later the pair stabilized at more…