Emerging defensive

By GG Analyst in Reviews 0 Comment

USD/TRY

Emerging markets are on the defensive now. The capital outflow from such countries as India and Turkey made their CBs sharply raise the interest rates, thus making investment in these currencies more attractive. Last night the Turkish CB increased its overnight lending rate from 7.75% to 12%, and one-week repo rate from 4.5% to 10.0%. This measure, surprising in its scale, boosted a rally in the emerging markets and supported strengthening even of such currencies as the Australian dollar. Albeit at a smaller scale, yesterday the Russian CB conducted interventions at approximately a billion dollars, along with that exceeding the more…

AUD got a chance of consolidation

By GG Analyst in Reviews 0 Comment

EUR/USD

The US stock markets are still suffering heavy selling. Bulls are retreating not only because of the expectations of QE reduction from the Fed, but also because of the unimpressive corporate reports. Index futures have an opportunity for a respite only when the US trading session is over. It was yesterday and the same movement we can observe today. The euro/dollar keeps ignoring fluctuations of stock indices, which is not typical of this pair. Yesterday the currency made another attempt to find demand on growth. The attempt proved to be futile, the pair was turned around straight above 1.37 with the more…

Currencies and stocks are again apart

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro’s behaviour on Friday was really unnerving. Having summoned up all strength with the help of other currencies, bulls directed all efforts to sweep away bearish positions in the pair. For a couple of hours the pair was pushed from the daily low of 1.3660 up to 1.3738 and then was accurately put back to 1.3677. Forex hasn’t managed to go far from this level by now and trading is held at 1.3685. The calmness of the currency market is noteworthy as in the meantime stock exchanges suffered heavy selling. It is also true that earlier stocks felt good as more…

It’s all USD’s fault

By GG Analyst in Reviews 0 Comment

EUR/USD

The pair got support on the strong stats from Europe and relatively poor data from the USA. Yesterday’s PMI helped the single currency get off the lower bound of the range, forming since the beginning of the week. The index pointed out strengthening of business activity in the eurozone. And what’s important not only in Germany, but also in other countries. But afterwards dollar bears fastened on the continuing claims index, which has been on the rise for the last three weeks. Except for one week in July, distorted by the holidays, the last time unemployment claims exceeded 3.06 million was more…

EUR and GBP are going against USD

By GG Analyst in Reviews 0 Comment

EUR/USD

Taking into consideration the fluctuations of the recent months , this week’s movements look as fluctuations near the uptrend support. Breaking through this line (supposedly 1.3510 by the end of the week) will allow speaking about a serious bullish sentiment in regard to the dollar. Now bulls prefer attacking on the flanks, putting pressure on the currencies of the export-oriented economies like Australia, Canada, Russia. But, in our opinion, it is a temporary situation and soon the EU currencies will come under a stronger pressure. To be more exact, the dollar will commence growing. The risks concerning the euro lie with more…