Quiet last trading day of summer

By GG Analyst in Reviews 0 Comment

EUR/USD

Passions around Syria have somewhat subsided. No, we don’t say that intrusion is no longer planned, but Americans have slowed down a bit and the British parliament has voted against this intrusion. Americans will need time and sound arguments to justify their solitary intrusion into Syria. Stock exchanges returned to cautious buying, but it failed to support the single currency. Yesterday EURUSD fell down to 1.3218. As expected, breaking through 1.33 intensified selling of the currency, throwing the pair back  right to the two-week lows. However, now it is not absolutely certain that this downward move will continue. The pair has more…

Cautious European consumers

By GG Analyst in Reviews 0 Comment

EUR/USD

Syria is still hitting the newspaper headlines. Oil grew impressively pushed by the threat of a large-scale intrusion into this country and also by the forecasts of investment banks and hedge funds. Rates of Black Gold may rise even higher, to 125 in the coming days and to 150 if the regional conflict expands, in the opinion of Societe Generale. Anyway, outside the oil market this threat is hardly felt. Of course, the market looks a bit more jumpy than in the previous days, but this is only in comparison with the summer lull. EURUSD remains squeezed in the 1.3300-1.3400 corridor. more…

Impudent bulls and bears

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday bulls and bears were again measuring their strength against each other, trying to budge EURUSD. Either the parties were equally strong or they were not willing to continue the fight, but after a steep drop the pair in a while returned to the previous levels. Impertinence of bears showed itself when they intensified their pressure on the euro right after the release of relatively good news from Germany. The Ifo statistics indicated growth of the Business Climate Index to the highest level over the last 16 months and, therefore, exceeded expectations. In August the index has risen to 107.5 against more…

America’s slowing down even without cuts in public spending

By GG Analyst in Reviews 0 Comment

EUR/USD

Signals of economic activity subsidence after a slight surge in spring keep coming from America. Following the decline of new home sales (by 13%), goods orders also sharply decreased. This index lost 7.3%, which is twice as much as the expected correction of 3%. Besides, the growth rate a month ago was also revised down. All in all, yesterday’s drop crossed out more than half of increase in goods orders over the preceding three months. In connection with these statistics the following question inevitably comes to mind: weren’t the data on acceleration of the US economic growth in the first half-year more…

US housing market: everything okay?

By GG Analyst in Reviews 0 Comment

EUR/USD

New home sales in the USA dropped right by 13.4% in July. That unexpectedly sharp decline gave rise to dollar selling in the second half of Friday’s trade. EURUSD flew up by half a figure to 1.3400. That was the third attempt to break through that level for the last three weeks. The first attempt was in the first decade of August – then the pair just touched that level. And the other two tries took place last week, yet each time the pair failed to consolidate above those levels. At the moment trading is held at 1.3380 and the pair more…