EUR is trying to grow against the news

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday we again saw how the market was ‘selling’ facts. The so-much-awaited report on consumer prices in the eurozone showed slowdown. The annual inflation is again at the lows of March (0.5%). Those, in their turn, are the lowest in five years. Before the release of the data the euro/dollar had  been pushed down and the pair again had hit the local lows at 1.3585. However, the released statistics stirred short covering. It was supported afterwards. As a result, the euro grew to 1.3646. Since no input data have changed and the ECB is still expected to ease the policy, yesterday’s more…

EUR keeps crawling down

By GG Analyst in Reviews 0 Comment

EUR/USD

The European session began with the fresh pressure on the single currency. Before the release of Final Manufacturing PMI the euro had been pushed from 1.3640 down to 1.3590. Most likely, it had been connected with the earlier reaction of the market to the inflation statistics in the German lands, which at the end of the day was to form into the overall picture. Then it turned out that the actual data failed to meet the forecasts, so the euro’s decline was accounted for by fundamental factors. The EU Services PMI in May was revised down to 52.2 instead of the more…

Bulls’ defensive line

By GG Analyst in Reviews 0 Comment

EUR/USD

The revised statistics on the US GDP in the first quarter proved to be even worse than that poor growth rate of 0.1%, which we saw a month ago. The revised data showed that the economy was shrinking at the pace of 1.0%. These data are really poor, yet they were soon diluted by quite favourable employment data. The weekly unemployment claims decreased to 300K, which is much better than the expected 321K and the preceding rate of 327. The continuing claims are still in the downtrend, making now only 2631K. This unemployment downtrend was exactly that very factor, which outweighed more…

Losses of EU currencies

By GG Analyst in Reviews 0 Comment

EUR/USD

Spurred by the increased demand for US assets, EURUSD fell down to a fresh three-month low at 1.3587. Investors’ outflow from the sterling looked really remarkable – it was going on simultaneously and was even more conspicuous. And all this happened without any clear signals of weakness in the eurozone as well as in Britain. This state of affairs sends us to seeking reasons outside Europe. The price of US stocks, in the meantime, is rallying and remains in the overheated zone. There is a feeling that EU currencies are losing investors right to ensure stock purchasing in the USA and more…

EUR: a broken boundary

By GG Analyst in Reviews 0 Comment

EUR/USD

Strengthening of right-wingers in the European Parliament has complicated the position of those, who insist on austerity measures. It was quite expected that the number of euroskeptics would grow, but the actual growth has proved to surpass the forecasts and, as a result, put the single currency under pressure on opening of the trading day. Trading is now close to 1.3620, whereas the lowest level reached by the pair was 1.3612. Technically there is some reason for this poor beginning of the day. The single currency closed the week below the important 200-day MA, which promises growth in selling as large more…