Back to the January trends

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency was retracing. More so, it returned to the trends of January. The euro, commodities and stock exchanges were growing, while the yen, sterling and a number of commodity currencies (AUD and CAD) were under a heavy selling pressure. Once again the good performance of the euro was fed by positive news from Europe. The Final Services PMI, released yesterday, was significantly revised up as compared with the initial estimate. The index of activity in the services sector of Germany has grown to 55.7 against 52.0 a month ago and the initial estimate of 55.3. It’s a good more…

Correction or reversal?

By GG Analyst in Reviews 0 Comment

EUR/USD

Those, who missed volatility and interesting trends in the second half of the previous year, now should be happy about the current state of things in Forex. The single currency rose by 2 figures up to the 15-month high last week and this week for less than 2 days again dipped below 1.34. In January the pair was consolidating below this level for about two weeks, while breaking through the level promised a powerful and continuous rally. The rally proved to be relatively powerful, but not continuous. Back then we already noted that the single currency was appreciating against the dollar more…

Asynchrony of markets

By GG Analyst in Reviews 0 Comment

EUR/USD

The payrolls were somewhat dubious. On the one hand, the January data proved to be worse than expected, but on the other hand the rates of many previous months were revised up. Thus, it turned out that a year ago, in January 2012, the US labour market grew by 311K, while in January 2013 it added just 157K, i.e. twice as little. This growth rate lags behind the natural population growth, so it’s not surprising that the unemployment should rise from 7.8% to 7.9%. The earnings keep growing at a pace slightly higher than the inflation rate, demonstrating 2.1% for earnings more…

Broad USD decline

By GG Analyst in Reviews 0 Comment

EUR/USD

The dollar’s antirally continues. It is a relatively new trend, as earlier the euro was growing against the dollar almost alone. Now appreciation of risk-sensitive assets is getting all-round. Yesterday the euro bears were defending fiercely and didn’t give up 1.36. But in the Asian session today purchasing of the euro became more intense. That was largely caused by growth in EURJPY, which has been on the rise for 11 out of the recent 12 weeks and is now relentlessly sweeping stops before itself. Yet we shouldn’t think that the euro itself has nothing to do with it. Yesterday’s employment data more…

The uptrend coming closer to the end

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday the euro broke through the bounds of the 2-week range – this was a big step, but now the currency again prefers to sit it out. Trading is again held in the narrow channel, mainly around 1.3450. Undoubtedly, the bulls are getting ready to attack 1.35, but don’t feel strong enough for that at the moment. Psychologically, it would be much easier if it happened together with breaking through 1500 in S&P 500. The attempts of such a simultaneous attack were observed yesterday. However, the stock bulls felt tired after the 8-day rally and decided to have some rest. more…