EUR is trying to grow against the news

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday we again saw how the market was ‘selling’ facts. The so-much-awaited report on consumer prices in the eurozone showed slowdown. The annual inflation is again at the lows of March (0.5%). Those, in their turn, are the lowest in five years. Before the release of the data the euro/dollar had  been pushed down and the pair again had hit the local lows at 1.3585. However, the released statistics stirred short covering. It was supported afterwards. As a result, the euro grew to 1.3646. Since no input data have changed and the ECB is still expected to ease the policy, yesterday’s more…

EUR keeps crawling down

By GG Analyst in Reviews 0 Comment

EUR/USD

The European session began with the fresh pressure on the single currency. Before the release of Final Manufacturing PMI the euro had been pushed from 1.3640 down to 1.3590. Most likely, it had been connected with the earlier reaction of the market to the inflation statistics in the German lands, which at the end of the day was to form into the overall picture. Then it turned out that the actual data failed to meet the forecasts, so the euro’s decline was accounted for by fundamental factors. The EU Services PMI in May was revised down to 52.2 instead of the more…

USD again has MAY in its favour

By GG Analyst in Reviews 0 Comment

EUR/USD

Thursday and Friday ensured a short break for the single currency. Despite the traditionally increased demand for dollars at the end of the month, most players preferred to take profits, giving other currencies a chance to recoup themselves. May is customarily a favourable month for the dollar, and this year hasn’t been an exception. In the first days of May the currency dropped from almost 1.400 down to 1.3585 on the speculations around the coming rate cut. The most important thing, in our opinion, was decline below the 200-day MA. Going below this level is able to cause serious strengthening of more…

Losses of EU currencies

By GG Analyst in Reviews 0 Comment

EUR/USD

Spurred by the increased demand for US assets, EURUSD fell down to a fresh three-month low at 1.3587. Investors’ outflow from the sterling looked really remarkable – it was going on simultaneously and was even more conspicuous. And all this happened without any clear signals of weakness in the eurozone as well as in Britain. This state of affairs sends us to seeking reasons outside Europe. The price of US stocks, in the meantime, is rallying and remains in the overheated zone. There is a feeling that EU currencies are losing investors right to ensure stock purchasing in the USA and more…

EU currencies get support from stock growth

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s growth of stock exchanges helped the single currency in thin trading. While the main capital markets (Britain and the USA) were closed, stock index futures were attacking the new highs. Thus, S&P 500 not only managed to set a new record at 1900, but also to close out the day above that level. In the meantime, the technical analysis shows that this indicator is overbought. Strictly speaking, it doesn’t promise an immediate reversal at these levels. So those who play against the market should be more careful. The current position of the index urges to look out for the moment more…