EUR has reversed, others lag behind

By GG Analyst in Reviews 0 Comment

EUR/USD

Even the relatively strong PMI rates for May couldn’t change the market sentiment regarding the single currency yesterday. The level of 1.37 was finally surrendered and now trading is held close to 1.3650. We got evidence of the downtrend formation when the pair dropped below the preceding low of 1.3675 and became sure about the bulls’ strength when went below that level once again. The lows were not completely renewed as on Wednesday the pair declined to 1.3633 and this morning it only hit 1.3640. The current rates are extremely important for the pair as the 200-day MA is just 10 more…

EUR moved away from the extremums

By GG Analyst in Reviews 0 Comment

EUR/USD

In the absence of important news players tried to take profits from the preceding growth in the pair. Because of that the pair moved away from the extremums and hit 1.3900 this morning. Today the markets will be focused on Draghi’s speech at the press-conference after the rate decision. It’s quite possible that we will hear again about readiness to act and that the continuous low inflation will be pernicious for the economic growth. Not only the market participants, but also journalists of every stripe and colour have been long in the know about this chapter of economic theory and as more…

Plain payrolls, mixed reaction

By GG Analyst in Reviews 0 Comment

EUR/USD

Friday’s data on the US employment proved to be surprisingly favourable. The employment grew by 288K and the statistics for the preceding two months were revised up by 36K in total. The unemployment decline, which looks really shocking at first sight (from 6.7% to 6.3%) is ensured by another decrease in the workforce. In April the participation rate again occurred at 62.8%. This is a low, which has been hit only twice in modern times – in October and December 2013. Before that the indicator was that low only in the late 70s, but at that time it was in the more…

EUR &GBP: cautiously awaiting statistics

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency went as high as 1.3878. The bears, who had put pressure on the currency earlier in the day, were punished, but the higher movement could already be provoked only by serious reasons. There weren’t any, so trading stabilized at the neutral 1.3850. Market players behave quite cautiously now in anticipation of piles of  important statistics on Europe and the USA. Regarding trends, inflation data will be of utmost importance for the single currency. Tomorrow we expect the Preliminary EU CPI for April, and today we will get inflation statistics on the German Lands, which may also affect more…

Bulls try to heat up EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency was being purchased on Friday as if along a ruler. The euro/dollar was growing strictly within the narrow upward channel. It speaks not only about presence of big buyers, accurately picking up the pair, but also about absence of any idea in the markets. The pair remains in the grip of uncertainty of the ECB’s policy. Despite the inflation slowdown, in Germany as well, most members of the Bank’s governing board treat a rate cut or any other easing of the monetary policy as a certainly pernicious thing with economic growth in the background. Anyway, market participants keep more…