Where is it better?

By GG Analyst in Reviews 0 Comment

EUR/USD

Reduction in the Fed’s asset purchases is more and more favoured by the FOMC’s members. Earlier we heard from Lockhart about readiness to reduce bond buying already this autumn. Yesterday we heard something of the kind from Evans, Chicago Fed president. This official, who in most cases takes up a dovish position, said that he expects faster economic growth in the second half year and that the Fed is likely to start to curtail its bond-buying round already this year. Just a few  weeks ago such claims would have caused significant shifts in Forex, but now to counterbalance improvement in the more…

A trend change?

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency failed to break through 1.33 yesterday. The pair was being sold despite the fact that Final PMI for Europe proved to be more positive than expected before. EURUSD stopped growing at 1.3299 in the heat of the EU session and afterwards  was falling down to 1.3230 right till the beginning of the active US session. In its turn, ISM Non-Manufacturing PMI couldn’t support the dollar’s strength. It is a bit surprising as the index totaled 56.0, which was last seen only in February, and, in addition, proved to be much above the previous (52.2) and forecasted (53.2) rates. more…

Payrolls to confirm Bernanke’s words

By GG Analyst in Reviews 0 Comment

EUR/USD

Last week was probably the period of change for the dollar. The American currency has been moving down already since the beginning of July, when Bernanke gave a speech, disproving the expectations of the stimulus rollback in the near future. Last week we saw something different. Bernanke’s assurances were finally heard and accepted due to relatively poor employment statistics. According to the released data, in July the market added 162K of jobs – this is the smallest rate since March. However, the weak March was preceded by the abnormally strong February with its growth of 332K. Don’t be taken in by more…

Changes for the better

By GG Analyst in Reviews 0 Comment

EUR/USD

Forex trading on Thursday was very nervous. The difference between the intraday top and bottom made 130 pips. It’s noteworthy that the rally towards 1.3300 was supported by quite positive statistics from Europe, but the main movement took place in the US session and was spurred by shifts in the US debt market. The latter is heading for higher yield. The minimal 10-year treasury yield of 1.39% about a year ago is now quite far from the current rates, showing the yield of 2.57%. Don’t be surprised if soon last month’s high of 2.76% is broken through and a fresh high more…

US housing: a bubble or not yet?

By GG Analyst in Reviews 0 Comment

EUR/USD

There’s another portion of good news from the US housing market. New Home Sales surged up by 8.3% to 497K annually in June. Against June 2012 it makes the increase of 38.1%. Yet, here we should mention a steep decline of the median home price to 249.7K against 262.8K a month ago and 282.1 two months ago. Remember that on Tuesday we learnt about a 1.5% decrease in existing home sales , but at the same time were struck by the sharp rise in prices. Apparently, Americans preferred new homes as there appeared offers to the buyers’ liking. What did yesterday’s more…