The flat end of the week

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency would have had a hard time, if the German PMI hadn’t come to the rescue. The preliminary French PMI, published half an hour before, intensified pressure on the euro due to the decrease in the Manufacturing and Services PMIs. The former fell from 48.8 right down to 47.3 against the expected 48.6 and the latter – from 48.4 to 48.1 against the expected 48.2. The French economy keeps slowing down. The Composite PMI in the meantime dipped down to 48.0, which hasn’t been seen since last February. The pair managed to stay above 1.26 (the low was more…

1.2600 as a crucial correction level

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is still being attacked by bears. These traders have decided to take advantage of the moment and sell the euro at a higher price due to the previous correction. Besides, as has already been mentioned, in the periods of such surface lull, trading volumes are quite handsome, which enables players to store liquidity for a serious attack. Unfortunately, it is hard to understand which stance big players will take. Now it seems that the euro’s correction is coming to its end and the pair will soon reach fresh highs since the beginning of October (below 1.2500). Now trading more…

Stock exchanges set the trend

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the euro-bulls didn’t let the pair cancel out the growth of Wednesday. The pair was picked up on the dip to 1.2700 and was pushed off above 1.2800. It’s absolutely unbelievable volatility in comparison with that mire, we observed last summer, when VIX reached the pre-crisis lows. Now it is at its three-year highs due to the impressive correction in the stock indices. It is that very profit-squeeze, we mentioned so often before. To be honest, we expected it much earlier, so now buyers’ enthusiasm has significantly subsided after hitting 2000 in S&P500. Another, more direct, reason for the beginning more…

Pernicious for USD, favourable for EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

The US market was trying to form a rebound off the weekly open almost all through the day yesterday, but these attempts were ruined by the bears’ finale. As a result, the stock exchanges again fell sharply, developing last week’s decline. This behaviour of the stock market has a beneficial impact on EURUSD. During bears’ attacks the euro is growing against the dollar. Yesterday afternoon the pair went as high as 1.2757, thus growing by a figure and a half over the day. The fluctuations of the recent week vividly show how much the market volatility has increased. Traders are trying more…

The payrolls shook 1.25 in EURUSD and pushed GBPUSD below 1.60

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency tested 1.2500 on Friday. This decline was caused by the perfect US employment statistics. The unemployment rate decreased from 6.1% to 5.9% and the number of jobs grew by 248K instead of the expected 210. Besides, the August statistics were revised up from 142 to 180. The average weekly hours has also slightly increased (from 34.5 to 34.6). But in the meantime, the average hourly earnings lost 1%, which in a way contradicts the classic situation with the tight employment market. It’s also no good that the participation rate has again fallen. In September it made 62.7 against more…