Pre-holiday hustle on Forex

By GG Analyst in Reviews 0 Comment

Hollidays

EURUSD

Last week was promising to be quite calm. Finally, this happened but at the beginning of the week, Euro renewed 13-year lows against dollar, having touched 1.0351. However, bears did not have enough power later on to accelerate the attack, and EURUSD returned to 1.0450 mark where it started the next-to-last week of the year. In the beginning, the main driver was a positive attitude for risks demand, but the cautiousness of players prevailed by the end of the week which encouraged growth of the common currency. At some point, bulls even tried to push the pair up to 1.0500 but more…

Forex bulls are slightly ahead

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the US dollar was much weaker than expected. The few speculators, still staying in the market, tried to take EURUSD to 1.33, but were stopped at 1.3280. After that even the moderately negative news from the USA was enough to push the pair below 1.32. The Consumer Confidence stats were poor. Concerned about the impending fiscal cliff and frightened by press releases, Americans were very cautious about their spending and tempered their optimism. As to spending, we have a preliminary estimate of the pre-holiday activity.  It wasn’t very impressive with growth of just 1% against 2% last year. The same more…

Dying carry-trade

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets are still in dissonance. Yesterday the single currency was appreciating while the US stock exchanges were on the decline. The EU markets were closed and will be back to work only today. The thin pre-holiday currency market was warmed up to the degree that triggered stop-orders. As a result, the daily minimum was set at 1.3180 at the beginning of trades and then with short hitches the pair got to 1.3250. Anyway, the pair didn’t manage to grow higher – instead traders got down to collecting their profits and activity started to gradually subside. This day promises to be more…

Pre-holiday market speculation

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the US markets went through a one-minute drop by over 2% on the news that the House of Representatives wouldn’t vote for adopting a new fiscal policy. Republican leader Boehner, the speaker of the House, announced that since the bill didn’t have enough advocates, the vote would be postponed. Boehner’s “plan B” hasn’t worked. Now both the parties have to quickly come to a mutual agreement, otherwise the automatic spending cut and tax increase will deal a hard blow to the economy. The Forex market took the news calmer. The euro tried to get to 1.33 yesterday afternoon, but in more…

“Hope” rally goes on

By GG Analyst in Reviews 0 Comment

EUR/USD

As reported in many news feeds, the US markets were growing all day long yesterday on speculations that democrats and republicans were seeking a compromise. The reasons for the market optimism were just the same as at the time of our previous release. So, there should be some other reasons for the growth, most likely, low trade volumes. The players are leaving the market, thus allowing speculators to easily move the prices. For comparison, optimism in the stock markets didn’t help the euro grow against the dollar. Yesterday the pair was trading all the time in the narrow channel of 1.3145 more…