Fed is the only one to deter USD’s powerful rally

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s economic statistics from the USA supported USD’s growth. In accord with the preliminary estimate, the GDP grew by 4.0% annually after the decline in the first quarter had been revised to 2.1%. Thus, the decline in the first quarter proved to be less deep than reported a month ago (2.9%) and the further growth more than made up for the dreadful beginning of the year. Such a disposition allowed to think that the Fed doesn’t need to hurry with a sharp revision of the growth outlook for the year. In its turn it suggests a possibility of earlier toughening of more…

Fundamental strength of USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar keeps recouping its losses. It is remarkable that it is growing not only against the euro, but across the whole board. We can even say that the single currency looked steadier than many others yesterday. Thus, EURUSD hit 1.3400 this morning. And this is the lowest levels since last November. Actually, we can already speak about the beginning of a rally in USD. And behind it there are perfect macroeconomic statistics. Yet, it is still disputable if the Fed’s policy will lag behind these data. In addition to the news which feeds USD’s strength, yesterday there was a more…

The sunset of the Land of the Rising Sun

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency tried to demonstrate timid attempts to grow, but already this morning the pair quickly returned to the local lows. Behind yesterday’s purchases there was scarcely anything more than cautious desire to lock in profits after the preceding decline of the euro. For this reason EURUSD managed to reach only 1.3440, besides the daily low was just 15 pips below it. Now trading is held close to 1.3430 and promises to be as sluggish as yesterday due to absence of macroeconomic statistics. The opposite can be expected, perhaps, only if the US Consumer Confidence will be much different more…

USD has been bought beforehand

By GG Analyst in Reviews 0 Comment

EUR/USD

This week we expect a whole series of important macroeconomic news from the USA. It will all start with the release of the GDP data for the second quarter on Wednesday. Further the baton will be picked up by the FOMC’s decision on QE and interest rates and by employment stats on Friday. The GDP is expected to show impressive growth against the recovery after the disastrous first quarter in the background. The Fed will hardly suggest anything new except for the 10-billion tapering of the asset purchasing programme, but traders and investors will still look for hints at the earlier more…

The cable is pushed down below 1.7

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s EU PMIs stirred pleasant surprise in the markets. Almost all preliminary indexes ( for Germany, France, the eurozone) proved to be in the green area, surpassing all the expectations and preceding values. The Composite PMI for the eurozone in general grew to 54, which is beyond the expected and previous 52.8. These data put considerable influence on the course of trading and changed attitude to the single currency. The pair managed to recover from the unreasonable selling before the beginning of active trading in Europe. Then bears pushed EURUSD down to 1.3437. On the tide of positive EU statistics the more…