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…

EUR is under unfairly strong pressure of the market

By GG Analyst in Reviews 0 Comment

EUR/USD

It cannot escape your notice that the market puts too much pressure on the single currency, even despite the news. Yesterday’s GDP statistics for Europe proved to be more than pleasant. France, with its growth by 0.5% in 2Q against the expected 0.1%, impressed a lot. Germany demonstrated an even stronger growth, but its 0.7% q/q proved to be closer to the forecasted 0.6%, and therefore aroused little surprise in the market. We can be glad for Portugal, whose economy grew by 1.1%, albeit this growth had been preceded by ten quarters of decline. With such favourable growth rates in particular more…

JPY and CHF are fading against demand for risk

By GG Analyst in Reviews 0 Comment

EUR/USD

Tuesday was an eloquent reminder of the fight, that is now going on between the dollar-bears and bulls. Yesterday the victory was gained by the former. At the end of the day EURUSD was trading around 1.3260, that is 40 pips below the daily open, and a few hours before that, at the beginning of trading in New York, the pair had managed to go as low as 1.3230. Looking back at the Asian and European sessions, we see that already then the pair couldn’t get a grip on the levels above 1.3310. A few attacks were repulsed, so even the more…

EUR may repulse USD

By GG Analyst in Reviews 0 Comment

EUR/USD

Just as had been supposed in our yesterday’s review, the dollar kept putting on weight in the absence of important news and big trading volumes in Forex. In such conditions trading was held with that cautious mood which had formed during the Asian session, when the markets had been reacting to the disappointing GDP statistics for Japan. As a result, the lowest point was reached in the heat of the EU session and EURUSD was falling as low as 1.3276, which is about 70 pips below Friday’s close. By now the single currency has managed to recoup a part of the more…

Carney shook up the pound

By GG Analyst in Reviews 0 Comment

EUR/USD

As we  warned about at the beginning of the week, the dollar has commenced retreating. Lockhart’s and Evans’s claims provided only temporary support to the dollar. Further, other factors like improvement in Europe have come into the play. Technically, the dollar is affected by the fact that many currencies of the developing countries have become overbought over the preceding months. In such circumstances the US currency will find it hard to grow. The dollar is more willingly purchased in the times of uncertainty. And now we find more and more signs of faster growth of the developed economies. At least now more…