EUR and GBP struggle further, AUD and JPY capitulate.

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro resists dollar’s pressure. The US currency was appreciating against many assets and asset classes yesterday, but the euro managed to win the day. The euro-bulls can hardly celebrate the victory, but anyway we should admit that EURUSD was purchased well at the daily lows (1.3355) and even demonstrated a series of ascending intraday highs and lows. As a result, the bulls managed to bring the pair up to 1.3426. Last night the pair was again pushed below 1.34, which means that the bears still keep control of the situation. On the whole the market has been balancing in a more…

EUR looks exhausted

By GG Analyst in Reviews 0 Comment

EUR/USD

The end of the last week can hardly be called lucky for the euro.  EURUSD slipped down from 1.3575 to 1.3370 on Thursday and continued drifting on Friday, falling as low as 1.3350. Friday’s decline of the euro against the dollar doesn’t look very impressive, but the currency’s weakness in other key crosses is striking. The single currency depreciated much against the pound, the yen and even against the franc. Thus, we get another proof of our opinion that the period of the euro’s strength and growth of EURUSD is over. The currency has rowed up the stream for a while, more…

All ears into Draghi’s speech

By GG Analyst in Reviews 0 Comment

EUR/USD

It seems the markets got stuck at one spot again. Earlier it was the channel between 1.3250 and 1.3400, where EURUSD was trading for a couple of weeks. Now the support is at 1.35 and the resistance is marked at 1.36. Yet, Friday’s upsurge on the payrolls was an exception, but we attribute it to nervousness of the markets. This week began with the return to the lower bound of the channel, i.e. to 1.35. On Tuesday the pair retraced and hit 1.36, while on Wednesday it again travelled down to the bottom of the channel. Now trading is held at more…

Asynchrony of markets

By GG Analyst in Reviews 0 Comment

EUR/USD

The payrolls were somewhat dubious. On the one hand, the January data proved to be worse than expected, but on the other hand the rates of many previous months were revised up. Thus, it turned out that a year ago, in January 2012, the US labour market grew by 311K, while in January 2013 it added just 157K, i.e. twice as little. This growth rate lags behind the natural population growth, so it’s not surprising that the unemployment should rise from 7.8% to 7.9%. The earnings keep growing at a pace slightly higher than the inflation rate, demonstrating 2.1% for earnings more…

Broad USD decline

By GG Analyst in Reviews 0 Comment

EUR/USD

The dollar’s antirally continues. It is a relatively new trend, as earlier the euro was growing against the dollar almost alone. Now appreciation of risk-sensitive assets is getting all-round. Yesterday the euro bears were defending fiercely and didn’t give up 1.36. But in the Asian session today purchasing of the euro became more intense. That was largely caused by growth in EURJPY, which has been on the rise for 11 out of the recent 12 weeks and is now relentlessly sweeping stops before itself. Yet we shouldn’t think that the euro itself has nothing to do with it. Yesterday’s employment data more…