Rise till fall comes

By GG Analyst in Reviews 0 Comment

EUR/USD

The minutes of FOMC’s meeting on July 31 – August 1 had more specifics about them than usual. As has been noted, the Fed is prepared to launch the programme of economic incentives if the figures remain that poor. Such news certainly filled the markets, especially currency ones, with enthusiasm. The risk-sensitive EUR/USD grew from 1.2470 to 1.2530 within just 3 hours. It’s worth mentioning that already before the release, during the day, the euro had been in good demand, cementing its positions above the previous highs. At the moment the single currency is trading close to the seven-week highs, near more…

USD is gradually losing ground

By GG Analyst in Reviews 0 Comment

EUR/USD

If there’s no news, journalists can easily invent it or present one man’s opinion as the mood of the whole committee. Thus, yesterday from Der Spiegel it became known that the ECB would probably fix the ceiling of spread deviation between the EU government bonds. Such rumours stirred hope in the markets, supporting the euro and making Spanish bond yields go down. However, the CB didn’t let the positive spread, stating that the measure was still to be discussed and that the idea was not an official stance of the Bank, but just the opinion of one of its members. Apparently, more…

Still out of trend

By GG Analyst in Reviews 0 Comment

EUR/USD

Friday ended with quite an unexpected drop of the euro. As a result, last week’s performance looks rather puzzling. On Wednesday the single currency tried to break below the support line of the upward channel. However, already on Wednesday the powerful spurt upwards made it clear that the fall was false and that the purchases of the pair on the dips could be resumed. But it is not all that simple. On Friday, after a fruitless attempt to hit 1.24 (the highest point reached was 1.2381), EUR/USD reversed down and at some point hit the low of 1.2288. By now the more…

Weakness of the periphery stops growth in EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

The relatively good statistics from the core EU countries didn’t manage to outweigh the slowdown in the periphery. Despite the stronger data from the biggest economies of Germany and France, the GDP of the whole eurozone shrank by 0.2% according to the average estimate. Against the level recorded in the same quarter of the previous year the decline made 0.4%. It hasn’t been a big surprise, but was still enough to shift the market pendulum towards sell-offs of the single currency. From the daily highs of 1.2385 it sank down to 1.2315 by the beginning of the Asian session. But the more…

Total forex flat

By GG Analyst in Reviews 0 Comment

EUR/USD

The new trading week has started very quietly. Besides, despite the negative beginning of Friday, as of the end of the week the indices and currencies generally remained where they had been. The pressure the euro suffered on Friday was stopped by a stream of purchases, which drove the pair up to the daily highs at 1.2315. Now the pair is trading at 1.2270, though in the morning hours we could still notice that pressure on the euro was increasing. On the whole, this day is going to be calm with very few data coming out. The only events deserving attention more…