Forex is disintegrating from stock markets

By GG Analyst in Reviews 0 Comment

EUR/USD

It looks as though the forex market had decided to stay away from the rally in stock markets. Three days in a row American stock markets have been closing positive, however the Foreign Exchange has demonstrated almost no growth against the opening levels. This is particularly clear from the euro/dollar performance. The pair is still trading around 1.3060. There is a good reason for positive sentiments in the markets as US statistics mainly indicate that economic performance in the country is improving. Yesterday’s data on the labour market show a decrease in the number of initial unemployment claims, as well as more…

Euro is going up, but slowly

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday under conditions of low liquidity the single currency was thrown at the mercy of speculators. In the first part of the day it was growing on expectations of favourable changes following the ECB’s decision to issue 3yr direct loans to banks. Thus, by the time the results of the ECB’s refinancing operation were published the pair had already jumped up to 1.3198. But hardly had the news come out, when there happened a reversal: heavy speculators considered such a great leap to be no good and began to vigorously sell the euro, having returned it into the slightly upward trend more…

In the absence of big news currencies are trading around key levels

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency continues fluctuating in a narrow range. While there is no news the euro holds close to 1.30 as market participants are unwilling to trade without new signals. The interview of the ECB’s President Mario Draghi to the FT and his yesterday’s speech reaffirmed that the Bank refuses to make significant purchases of troubled countries’ bonds, but at the same time is going to take certain measures to maintain the Eurozone’s integrity. On the whole this should be perceived as readiness of strong regional economies to increase their contribution to the bailout of troubled countries in order to get more…

Market Consolidation After a Stormy Week

By GG Analyst in Reviews 0 Comment

EUR/USD

Euro-bulls are consolidating their forces to close the week above 1.30. And there is some reason to believe that they will succeed. However this is unlikely to change the situation much. This week’s sales of the single currency are regarded as the biggest for the last three months; they have brought the euro to its lowest level since the beginning of the year. After a powerful move from 1.3380 to 1.2950 market participants need time to take a breath. Bargain hunters appeared in the market a day earlier than expected. Yesterday the euro managed to get over 1.30 and is now more…

Europe’s Vigour Fades, America Takes the Reins

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency fell below 1.30 yesterday and didn’t manage to recover in the course of the day. Some treat such a sudden sale of the euro as a consequence of investors’ disappointment in Merkel’s decision not to expand the size of the EFSF. Others also see the reason in the fact that agreements which were negotiated and signed by the heads of European states during the EU summit are still to be approved by the governments. And this issue is not that simple. But there is one more factor – the fall of liquidity at the end of the year. more…