Unpredictability of Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

Stock exchanges sighed with relief on the news that Obama and the republican leaders hope to avoid a government default. The recent messages point out that the best thing we can get now is an agreement on a short-term debt ceiling increase to gain time for negotiations. As we saw in the preceding three times, the farther the deadline was the farther the positions of the parties were. Now there are more incentives to look for a compromise to overcome the political crisis. But it is not our case. Thus, the US markets have grown by almost three percents from the 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…

USD is in full retreat

By GG Analyst in Reviews 0 Comment

EUR/USD

Albeit with a certain delay, the markets seem to get imbued with the realization that the stimulus rollback won’t take place as soon as supposed before. Against this background money has again started flowing into risky assets. More so, some agitation can be observed in the developing markets as well, which in its turn helps commodities and commodity currencies. In general, the dollar is depreciating across the board. EURUSD was on the rise all through the day yesterday. And if before the beginning of the active Asian session growth hadn’t been very fast, afterwards it picked up speed. As a result, more…

America’s slowing down even without cuts in public spending

By GG Analyst in Reviews 0 Comment

EUR/USD

Signals of economic activity subsidence after a slight surge in spring keep coming from America. Following the decline of new home sales (by 13%), goods orders also sharply decreased. This index lost 7.3%, which is twice as much as the expected correction of 3%. Besides, the growth rate a month ago was also revised down. All in all, yesterday’s drop crossed out more than half of increase in goods orders over the preceding three months. In connection with these statistics the following question inevitably comes to mind: weren’t the data on acceleration of the US economic growth in the first half-year more…

Fierce fight of bulls and bears

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday was marked by an interesting fight between bulls and bears. The dollar has a good chance to grow due to the coming stimulus rollback by the Fed. At the same time, the single currency is also getting some good news. The preliminary PMI rates for the largest countries of the eurozone proved to surpass the expectations and grew against last month’s rate. Manufacturing PMI for the whole eurozone hit 51.3, but the biggest contribution was made by improvement in Germany, where that index rose from 50.7 to 52.0. However, these rates (exceeding expectations, by the way) failed to prevent the more…