USD eases pressure

By GG Analyst in Reviews 0 Comment

EUR/USD

Last week ended with a slight appreciation of the dollar. But this growth wasn’t enough to make up the losses, suffered earlier that week because of absence of a sound reason. This week players seem to be willing to continue locking in profits in the US assets. The dollar and stock indices are falling simultaneously. It is remarkable that S&P 500 has gone below the local low of August and is at risk of getting to the highs of early March – mid May. These levels (near 1870) can become quite a good support just the same way they served as more…

The bearish market for Oil

By GG Analyst in Reviews 0 Comment

EUR/USD

The pressure on the dollar failed to last for all day long yesterday. EURUSD was reversed near 1.2800 and pushed off to 1.2665 during the New-York session. This decline made up for almost all losses suffered on the release of FOMC’s minutes. Now the pair is close to the support level of the short-term trend. If in the coming hours bears become more active and manage to push the pair below yesterday’s lows, the dollar will be strong enough to resume its rally and continue growing in accordance with the fundamental indicators. However, should the upward movement continue, we will probably more…

FOMC fears growth of USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The Fed’s minutes showed that FOMC is in a more peaceful mood than expected. As seen from the comments, published yesterday closer to the end of the US session, the Committee feared that changes in the comments would be taken in the wrong way by the market. As you remember, in September many expected that FOMC wouldn’t mention that the rates would stay low for ‘a considerable time’ any more. The forecasts contain fears that the slowdown of the global growth can affect the closeness of the US monetary policy tightening as slower growth results in the increased demand for the more…

A quiet day for USD

By GG Analyst in Reviews 0 Comment

EUR/USD

USD gave all Friday’s gains back to the single currency. Against other currencies it felt a bit more confident, staying positive. The main reason for that, in our opinion, is strong positioning for growth of the US currency. The rows of its buyers are too dense, so simply there can be no more volunteers to buy again. This very lack of heavy buyers serves as driving force for the currencies, otherwise the movement would be opposite. We mentioned it before and expected that it would happen on the ECB’s rate decision or on the employment statistics. However, it didn’t happen and more…

The payrolls shook 1.25 in EURUSD and pushed GBPUSD below 1.60

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency tested 1.2500 on Friday. This decline was caused by the perfect US employment statistics. The unemployment rate decreased from 6.1% to 5.9% and the number of jobs grew by 248K instead of the expected 210. Besides, the August statistics were revised up from 142 to 180. The average weekly hours has also slightly increased (from 34.5 to 34.6). But in the meantime, the average hourly earnings lost 1%, which in a way contradicts the classic situation with the tight employment market. It’s also no good that the participation rate has again fallen. In September it made 62.7 against more…