Draghi isn’t anything like he used to be

By GG Analyst in Reviews 0 Comment

EUR/USD

Having stopped consolidating, EURUSD has moved upwards. The pair is testing 1.3600 now, which hasn’t been seen since February. Honestly speaking, it is somewhat against our expectations as lately we’ve observed mainly worsening of the released statistics. This has allowed us to suppose that the growth impulse is dying. Anyway, yesterday traders’ attention was all focused on Draghi’s speech, in which the ECB’s governor didn’t say a word about the need for measures to improve lending in the region. The euro grew on such claims as before that the CB’s members had expressed their readiness to take such a step. Yet, more…

A sudden return of EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Quite unexpectedly for us the currency market turned in the direction of the dollar’s decline. It occurred even before the beginning of the EU session, that is without any reason in the news background. As a result, from the daily low, which we described in our yesterday’s review (1.3461), the pair grew to 1.3536 in the midst of  trading in the USA. The movement to that area marked a return to the zone of highs after the Fed’s decision not to change the policy. If so, it means that the market has decided to get even higher, collecting stops above the more…

A modest downtrend

By GG Analyst in Reviews 0 Comment

Yesterday the market kept pushing the single currency down. It is remarkable that this process is going on gradually, without jerks. Already for five trading sessions in a row EURUSD has been showing a series of descending highs and lows. Yet, if at the initial stages the market was moving against the news, now the process is in tune with the released statistics. Yesterday’s data on German activity by Ifo proved to be worse than expected. Instead of the supposed growth to 108.4 the index reached only 107.7. It is not bad, taking into account that it is the highest level more…

Cautious European consumers

By GG Analyst in Reviews 0 Comment

EUR/USD

Syria is still hitting the newspaper headlines. Oil grew impressively pushed by the threat of a large-scale intrusion into this country and also by the forecasts of investment banks and hedge funds. Rates of Black Gold may rise even higher, to 125 in the coming days and to 150 if the regional conflict expands, in the opinion of Societe Generale. Anyway, outside the oil market this threat is hardly felt. Of course, the market looks a bit more jumpy than in the previous days, but this is only in comparison with the summer lull. EURUSD remains squeezed in the 1.3300-1.3400 corridor. 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…