Good Friday for the euro?

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency rewrote its local lows and went sideways on very thin volumeless trading. On Thursday EUR/USD went down to 1.3034 at the beginning of the active US session, but then it moved sideways. Now the currency is quoted at 1.3070. It’s often the case that a day before the payrolls release volatility abandons the markets, and traders place large orders at the current levels. But today the most part of Europe is getting ready for the coming Easter, so the markets are almost completely deprived of volume. Very often the trend, which has been dominating the markets over more…

The dollar keeps strengthening – be careful

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro decline, started after the release of the Fed meeting minutes, persisted for most part of the day yesterday. EUR/USD fell down to 1.31, though a couple of days ago it was high at 1.3350. Technically the euro/dollar is close to an important support level. The continuous slackness in the preceding days spilt over into the vigorous action. However, it seems to subside now on the reduced volumes before the holidays. It’s of interest that yesterday’s euro sales occurred on the upward revision of Services PMIs in the greater part of Europe. In March the Euro-zone final services PMI made more…

Forex got stuck in flat trading

By GG Analyst in Reviews 0 Comment

EUR/USD

This Monday stock exchanges are mainly growing, though it’s hard to single out any dominating sentiments. The euro started the week with a positive gap, which was closed in a few hours though. EUR/USD jumped up to 1,3375 at the opening (which coincided with Friday’s maximum) and then again fell down to 1,3330. And at the beginning of the European session the quotes started to gradually crawl up and now trading is held approximately in the middle of the above-mentioned corridor. Today markets have received data on PMI of different European countries. On the whole, the data point at the conspicuous more…

European bears, American bulls

By GG Analyst in Reviews 0 Comment

EUR/USD

It’s great when officials pay their attention to the same figures as analysts do. Like was mentioned yesterday, although filling of the European banks with liquidity has helped to save the regional financial system from complete collapse, it still hasn’t reached the ultimate goal that Draghi talked about. Namely, it hasn’t managed to increase lending to the business and household sectors. However, as the ECB’s vice-president quite unexpectedly put in his speech, the Bank didn’t pursue the goal of supporting lending in the region. It’s a bit surprising. At the same time, the situation in Spain is becoming tenser and tenser. more…

Markets climb extremely high to launch correction next

By GG Analyst in Reviews 0 Comment

EUR/USD

Markets cracked under their own weight and after an impressive rally on Monday launched a deep correction. Formally, the sales were triggered by a dramatic deterioration of the consumer confidence, recorded by Conference Board. In March the figure made 70.2 against 71.6 a month earlier. Besides, the worsening was mainly caused by ongoing concerns of the Americans about the employment situation in the country. Remember that just a few days ago everyone saw only positive changes in this sector and drew the parallel with the figures at the start of recession? Of course, the labour market issue may pale into significance more…