USD is retreating

By GG Analyst in Reviews 0 Comment

EUR/USD

Just as we supposed in our yesterday’s review, the US employment statistics, being close to the market expectations, haven’t produced any influence on the recent trends. In other words, after a short consolidation the dollar has resumed retreating. At the beginning of the EU session today there was another attempt to attack 1.33, but it was repulsed at 1.3290. Already now the pair is trading in the area of its local highs. The latter in their turn are taking us closer to the levels observed last February. The pair’s performance since the end of April has been diametrically opposite to what more…

Uninteresting payrolls

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment report is considered to be one of the most unpredictable publications.  The market consensus is generally built on the basis of a great data spread, and the actual data very often differ much from it. Deep down, the forecasts were rather congested and the actual data proved to be close to the average market expectations. The release showed that employment grew by 175K against the expected 167K. The same with employment change in the private sector- it proved to be 178K against the forecasted 175K. The data were good enough to believe in the normal pace of growth more…

Enjoyed the rally? Probably, it’s not the end

By GG Analyst in Reviews 0 Comment

EUR/USD

Did you like it? Several factors coincided at once to provoke heavy selling in the dollar, which only in EURUSD resulted in a move of 270pips from the daily low to the daily high. Moreover, having risen from 1.3090 to 1.33 for less than five hours after Draghi’s speech, at night the single currency was consolidating at 1.3340, it means traders have gathered their profits and do not hurry to purchase dollars. Let’s look into the reasons. First of all, during the day the US currency was gradually weakening as a result of the preceding poor statistics, which reduced the likelihood more…

The Fed points out improvement despite contraction in government spending

By GG Analyst in Reviews 0 Comment

EUR/USD

The US S&P 500 keeps suffering losses. Yesterday it decreased by other 1.3%. The stock bulls have a cause for concern. First of all, the ADP statistics proved to be worse than expected, showing employment growth in the private sector by 135K in May against the forecasted 171K. Of course, it’s better than the increase reported in April – 113K (revised down from 119), but it is too little to speak with confidence about steady growth. Anyway, in the Fed’s Beige Book, which was published later yesterday, market observers noted a surer growth, varying “from modest to moderate”, in 11 regions. more…

Is USD up for a reversal?

By GG Analyst in Reviews 0 Comment

EUR/USD

On Tuesday the single currency stalled on the way to 1.31. Thanks to other instruments  the US currency strengthened its positions a little bit. Anyway, the dollar index (DXY) is moving away from its extremums, which it reached at the end of the previous month. Yesterday it was by 2.5% below the highs, hit on May 23. We have more and more doubts that the dollar will resume growing in the near future. For about a year the index has been in the uptrend, yet the latter has been running in waves. We should take into consideration that another tide of more…