It’ll be hard for payrolls to strengthen USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The ECB with Draghi at the head didn’t suggest any new incentives or ways to stimulate money supply in the eurozone yesterday, moreover they made it clear that the issue didn’t have any discernible outline even in the discussions. In this connection purchasing of the single currency was an understandable and justified reaction of the market. As a result, since the beginning of the press-conference the euro/dollar has grown by about a percent and is trading at the five-week high of 1.3670. But for the strong US statistics, it could be much higher. Yesterday’s statistics proved to be much better than more…

Ambivalent Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets are still moving in different directions. The single currency is strong enough to recover, while the stock markets are in the red zone. Yesterday the euro dropped to 1.3530 for a while, but now it is again attacking 1.3600. The currency’s fall was spurred by the ADP’s favourable employment statistics. In November the non-farm employment grew to 215K (against the expected 172). Besides, the rates of October and September were revised up, together making by 94K more than estimated before. This revision has brought ADP’s data closer to the official statistics, which have been showing higher rates recently. This more…

All attention to the stats

By GG Analyst in Reviews 0 Comment

EUR/USD

Monday’s selling interest was not spurred yesterday. The market is back at the week’s opening level. However, all the attempts to consolidate above 1.3600 proved to be futile. The pair rose as high as 1.3613 and rolled down below 1.36 while the Asian stock markets were going through a correction. The stock exchanges went into profit-taking after reaching the six-year high in Nikkei and the US stocks continued to decrease as expectations in regard to QE had been revised. This is what we have been preparing you for so long. The US central bank, in theory, can cut the volume of more…

The unstoppable pound

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday trading was mainly held within a very narrow range. The only exception was when EURUSD tumbled down by 20pips in the first hours of the US session. This movement was false as it occurred only because most traders hadn’t entered the market, taking another day off after Thanksgiving. The pair returned to Friday’s levels, that is 1.3600, just over a couple of hours after the Asian session had begun. This week promises to be very eventful. Both the ECB’s meeting and the US employment statistics are scheduled for it. These two events have been provoking the strongest volatility recently. more…

When sentiments are more important than the real economy

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro kept appreciating even during the holiday trading session for Americans. The single currency remains in demand due to expectations of favourable EU statistics. A month before the sudden decline in inflation gave rise to hopes for the possible rate cut by the ECB and other incentives. As a result, the benchmark interest rate was reduced, which dealt a blow to the single currency. By now the euro has overcome the consequences of the heavy selling aroused by the rate cut and by the claims of the ECB officials that the council was considering negative rates as further incentives. Anyway, more…