These mysterious central bankers

By GG Analyst in Reviews 0 Comment

EUR/USD

Greenspan once said: “I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I said”. Despite all strenuous efforts of modern central bankers to develop targeting and establish communication with the markets, the results are still very similar to those at the time of Greenspan. Last month the markets reacted as though the Fed’s head had made a U-turn in his policy during the last three conferences. His yesterday’s comments to the Congress supported the single currency for a while as they said about the Fed’s flexibility in using macroeconomic indicators in the more…

Waiting for Bernanke with bated breath

By GG Analyst in Reviews 0 Comment

EUR/USD

The market has again come to a standstill and to be on the safe side locked in profits after 8 days of growth. Today Bernanke gives another speech and expectations of this event are given extensive coverage in the press. First of all, it is caused by broad market movements in the opposite directions after the previous two speeches (the press-conference after the FOMC’s decision and the speech given in Cambridge on the occasion of the Fed’s centenary). But that is not all – it turned out that Bernanke’s speeches to the lawmakers usually provoke stronger fluctuations in the market than more…

RBA hints that AUD is low enough

By GG Analyst in Reviews 0 Comment

EUR/USD

EUR/USD is trying to break above the channel, where it has been consolidating in the recent days. Now the bulls are striving to reach 1.31. But it seems that the fate of these attempts will be decided by the German ZEW. If it goes far beyond the forecasted rates, the scales will be tipped in favour of the euro. Yet, it should be mentioned that already now this indicator is at quite favourable levels. In the evening the markets can be also affected by the US inflation statistics, but these data have been pushed to the sidelines,  since the Fed relies more…

Getting off the bottom?

By GG Analyst in Reviews 0 Comment

EUR/USD

Stock exchanges are not willing to retreat. Inspired by the Fed’s comments that the stimulus rollback in the near future is not a settled question, traders and investors have shifted their attention to the corporate reports. The recent statistics have been rather good since the expectations were not very high. The messages about good incomes from big corporations liven up the rally, which has already brought several closes at the record levels. Now we only have to wait for the renewal of the high hit on May 22 in S&P 500. Against such a background EURUSD feels better than a couple more…

The dollar’s decline slows down

By GG Analyst in Reviews 0 Comment

EUR/USD

Though Wall Street is close to record levels, Forex has been rather quiet over the last 24 hours. While S&P 500 yesterday closed at the highest level in history, EURUSD failed to break even through the highs of Thursday night. The only achievement of bulls yesterday was that they managed to stop the correction at 1.30, taking the pair to 1.31. Well,  it’s not bad, taking into account that just a couple of days ago the pair was at the three-month low of 1.2750. Anyway, the market hasn’t yet built the present-day tempered attitude to the stimulus rollback in the rates. more…