Dissolving of the government shakes trust in USD

By GG Analyst in Reviews 0 Comment

EUR/USD

If in the first hours and days after the deadline the US dollar didn’t suffer much pressure, now it is obviously getting in the downtrend. It is especially clear against appreciation of the single currency. The thing is that the euro is supported by the fact that the political crisis of the Italian government has been resolved. Berlusconi’s party supported Premier Letta in the vote of confidence, which occurred under pressure of the party and its leader. Besides, Obama himself makes the situation tenser. In the political game against the republicans he reminds that further delay in the budget adoption decreases more…

Bears will try to break below 1.35

By GG Analyst in Reviews 0 Comment

EUR/USD

Players are gradually taking their profits after selling of USD. As we know, the market can go against fundamental factors for a while if technical analysis presupposes such a movement. Something like that was observed yesterday in the euro/dollar. The Prelim PMI for the eurozone was not bad. Despite the disappointment with slower growth of Germany’s manufacture, where the index has fallen from 51.8 down to 51.3, the services sector has surged, demonstrating the highest activity since last February. And it’s been only the third month for the last 2 years, when Germany’s services sector improved so much. So, the news more…

Expanding discrepancy

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday we said  that it was high time for the markets to start correcting. However, yesterday’s move can hardly be called a correction in the full sense of the word, as the single currency failed even to go above the intraday low of Wednesday and the daily high was almost the same as a day before. So, now we can speak rather about the end of growth. At such moments the most cautious traders take their profits, but the majority of traders haven’t joined the movement yet. It can be easily understood, as the most important event of these days  – 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…

Labour market: limping recovery

By GG Analyst in Reviews 0 Comment

EUR/USD

It is quite often the case in the financial markets when bad means good. That’s what we saw on Friday when poor payrolls aroused optimism in the stock markets and increased demand for risk in the neighbour markets. Yet, under such circumstances it makes sense to believe that such optimism will be short-term, but it is still doubtful as now we have information that the situation with the US economic growth is not as good as presumed by optimists. Friday’s employment statistics showed that the number of jobs had grown by 169K against the expected 178K.Yes, the difference is not very more…