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…

Politicians won’t come to an agreement soon, employment is in the limelight

By GG Analyst in Reviews 0 Comment

EUR/USD

And though closing of several ministries in the USA didn’t provoke any sharp movement, it still put some psychological impact on the dollar. It had sagged by the beginning of the EU session yesterday, which for a while brought EURUSD closer to 1.3600. It is amazing that for all that stock markets should feel quite good. For the most part of the day they were in the uptrend. As a result, S&P 500 closed the gap, with which it had started the week, and for a while even returned to the levels of the second half of the previous week. It more…

Politics force to avoid risky assets

By GG Analyst in Reviews 0 Comment

EUR/USD

And again politics are weighing upon Forex. This time the world’s major currency has troubles on both sides straight away. The USA is now one more step closer to the government shutdown (for the first time since 1996) and in Europe Berlusconi is about to hold another election. Both in the former and in the latter case the story isn’t new and has always turned out well, as politicians eventually  has found a compromise, very often being the delay in taking of “the most important decision”. A few more details on this. The US House of Representatives, which is made up 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…