Payrolls: even more unpredictable this time

By GG Analyst in Reviews 0 Comment

EUR/USD

The analysts were cautious in their forecasts about ADP’s employment statistics. The company revised not only the calculation method, but also the previous data. As a result, the figures for September have been raised, now pointing to the employment growth of 114K in the private sector. Besides, the fresh October figures now indicate an increase by 158K. Traders couldn’t but take advantage of the improvement, which seems to be especially obvious against the background of the figures for August when growth made just 82K. Yet, the good news about the labour market doesn’t end here. The unemployment claims have decreased more more…

EUR learns to ignore the negative

By GG Analyst in Reviews 0 Comment

EUR/USD

This week abounds in important news releases, but all of them are expected a bit later. Looking forward to the news or being particularly cautious, the market participants preferred to keep the currencies within the recent ranges yesterday. Anyway, we can speak about some progress in the single currency since EURUSD closed out the day at 1.3060 against the opening level of 1.3020. In itself this move wouldn’t be a sign of something, but in the context of declining stock and commodity markets it reflects the steadiness of the euro purchases at the current levels. The American indices had displayed some more…

Buying the dips

By GG Analyst in Reviews 0 Comment

EUR/USD

Within the last 24 hours the single currency has left the zone of 1.31. Late on Thursday evening EURUSD was as low as 1.3050. Those, who stick to technical analysis in their trading, suspect that the pair can form a double top, and this is not without reason. On Wednesday the euro tried to break above the previous highs, however the bears repulsed the attack. In the long term, we believe, the single currency is in no danger, but still we shouldn’t expect that growth will be without stops and retracements. One of such, apparently, was yesterday. Though the bulls felt more…

The bulls were in the lead yesterday, though did that with reluctance

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday growth of the euro wasn’t that fast, but nevertheless the currency hit a new local high. The market caution is a bit frightening. The previous wave of growth at the beginning of September was much stronger. The high set in that move makes 1.3171. The bulls, which yesterday pushed the pair up to 1.3138, will hardly go down without a fight, that is without an attempt to enter the zone of triggering stops. This caution of the markets is connected with the upcoming EU summit. Actually, the latter isn’t expected to bring anything new, except for the already known facts. more…

After the rain comes the sun

By GG Analyst in Reviews 0 Comment

EUR/USD

As we mentioned yesterday, at present the markets enjoy good news. Yesterday the single currency managed to break through 1.30 since Merkel’s party, CDU, supported the plan to grant Spain a precautionary credit line to the rescue fund. In itself this event doesn’t imply any money allocations to the country or any other expenses, however already now we can see the effects. The yield of the government debt securities has gone down a bit. Then it was reported that Moody’s had decided to keep Spain’s rating at Baa3. This is the lowest investment grade. Anyway, it’s good news that there’s no more…