Expected unexpectedness

By GG Analyst in Reviews 0 Comment

EUR/USD

At the press-conference last evening Bernanke announced that the Fed would probably start the stimulus rollback later this year. Let’s be honest. Was there anyone in the market who didn’t believe that this scenario was possible? Numerous surveys show that the main question is not if the rollback will be held this year, but when. The market reaction was definite: to purchase dollars. The single currency was pushed down by almost 1.5 figures from above 1.3415 to  1.3260. Moreover, by the beginning of trading in Europe selling had begun again and by now the currency has hit a daily low at more…

GBP’s streak of luck is over

By GG Analyst in Reviews 0 Comment

EUR/USD

Set free, that is outside the narrow trading range, the single currency entered the period of high volatility. At the end of Monday the pair soared to 1.3380, but already by the beginning of the EU session it had returned to the preceding levels. The reason for that was Draghi’s determination to apply non-traditional monetary policy measures, which he expressed at the conference in Israel. The pair plunged to 1.3325, but was supported by the bulls and managed to set new daily highs. It’s an interesting case. The ZEW Economic Sentiment came out slightly above expectations, but the pair was already more…

EUR is expecting the Fed’s decision around the local highs

By GG Analyst in Reviews 0 Comment

EUR/USD

The consolidation of EURUSD yesterday eventually ended in with the break through the upper limit of the range, which led the pair to the daily high at 1.3381. Despite the fact that it is a really impressive scale for the move without reason, the bears immediately took it as an opportunity to sell the euro at a higher price. From the end of the New York session till the end of the Asian one the single currency was gradually depreciating. Now the rates are at 1.3350, which can become a good level of support. In the meantime, the market remains sluggish more…

USD is retreating

By GG Analyst in Reviews 0 Comment

EUR/USD

Just as we supposed in our yesterday’s review, the US employment statistics, being close to the market expectations, haven’t produced any influence on the recent trends. In other words, after a short consolidation the dollar has resumed retreating. At the beginning of the EU session today there was another attempt to attack 1.33, but it was repulsed at 1.3290. Already now the pair is trading in the area of its local highs. The latter in their turn are taking us closer to the levels observed last February. The pair’s performance since the end of April has been diametrically opposite to what more…

Uninteresting payrolls

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment report is considered to be one of the most unpredictable publications.  The market consensus is generally built on the basis of a great data spread, and the actual data very often differ much from it. Deep down, the forecasts were rather congested and the actual data proved to be close to the average market expectations. The release showed that employment grew by 175K against the expected 167K. The same with employment change in the private sector- it proved to be 178K against the forecasted 175K. The data were good enough to believe in the normal pace of growth more…