Sad payrolls

By GG Analyst in Reviews 0 Comment

EUR/USD

The published employment statistics showed that the warning signals of other indicators earlier last week had been absolutely correct. According to the latest labour market report  the number of jobs in the USA grew just by 88K against the expected 190K. In line with the recent correlations the US dollar was falling on the poor stats. The single currency went above 1.30 at some point, which had been last seen only on March 25. Now the euro is trading slightly below this level – at 1.2990. In the meantime, the US exchanges were in correction. Maybe it is too early to more…

Cuts won’t hurt

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is in demand now,  yet remains at 1.3050, the low hit early this year . At this level the pair was trading in the first days of January  and returned there at the beginning of the week on disappointing results of the Italian elections. As has already been mentioned, the pair is more likely to grow than fall in the long run, however in the near term it is still possible that 1.30 will be tested. Apparently, it is an important stage in the struggle between bears and bulls, which will determine the further fate of the pair. more…

The US economic downturn. The worst is yet to come

By GG Analyst in Reviews 0 Comment

EUR/USD

The bulls finally broke through 1.35 yesterday and pushed the pair up by almost a figure. Already at the end of the New York session there were bold attempts to break through 1.36, but it wasn’t that easy. Today the pair feels like correcting the preceding growth, now being at 1.3550. The market participants seem to be indifferent to the economic news. Neither the favourable report on the US employment by ADP nor the dreadful GDP statistics put an end to the uptrend.  First, there was good news from Europe – the consumer sentiment and business confidence got better. The index more…

EUR is nearing 1.35, will it hold there for long?

By GG Analyst in Reviews 0 Comment

EUR/USD

The stock markets after some hesitation continued moving up to the new highs. The risk-sensitive FX currencies followed them. EURUSD is trading close to 1.35. Yesterday’s attempts to break through this level during the US session were halted by heavy selling. The difference between yesterday’s growth and the consolidation phase of the euro is that the US currency is depreciating across the board. Thus, what we see is weakness of the US currency against the background of global optimism, rather than strength of the euro caused by the capital repatriation on the growing confidence in the EU periphery. Unlike the beginning more…

A rare thing: EUR and USD are both growing

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday a decisive move was done. Having summoned their strength, the bulls defeated the bears and broke through 1.34. Then, after some consolidation, the upsurge continued. As a result, on Friday EURUSD reached the high of 1.3478, the daily low then made 1.3348. The growth was partly boosted by positive Ifo Business Climate in Germany. Again and again we see that indicators show better rates, which promises a higher business activity later in the year. Last week started with the improved ZEW data, which were followed by favourable PMI and at the end of the weak by positive Ifo stats. more…