The euro is under pressure from circumstances

31 July, 2015

By the end of the week the main currency pair is trading down – statistics play against the euro. On Friday morning, the EUR / USD tried to stabilize, and it succeeded until the German economic reports started coming out. There was nothing to rejoice to, and the main currency pair returned to the downward movement.

Retail sales in Germany in June, excluding the seasonal adjustment, increased by 5.1% y/y. The seasonally adjusted index fell in June by 2.3% m/m against the forecast of growth of 0.3%. It turns out that in the midst of discounts and sales, the retailers fail to attract the flow of customers. On top of that European businesses said that in yearly comparison, in the current season, there is clearly a reduction of Russian buyers, who usually up to 40% of total sales in the summer.

Yesterday a preliminary calculation of the US GDP for the second quarter was released and showed growth of the economy by 2.3% q/q with the forecast of growth of 2.6% q/q and a rather disastrous start of the year. It is worth noting, how deftly the U.S. deals with previous figures: the report for the first quarter was once again revised and again with an increase from -0.2% to + 0.6%. Who will dig into the old numbers? No One will. And suddenly the figures come out beautifully. Where, I wonder, did the winter slowdown of consumer activity, and lower retail sales go, as well as other economic parameters of a slow down.

In the euro/dollar there is now probably very little reason for potential growth. Most likely, the pair will stop in the range of 1.0935-1.10 and will be waiting for news there.


Source link  
Pound remains weak

The British Pound continues to recede in tandem with the US currency. The current quote in the GBP/USD pair is 1.4801. The pound stands at the minimum of eight and a half months...

The euro is barely moving

In anticipation of the New Year, the main currency pair, it seems, has moved into a phase of consolidation within a narrow range. The euro/dollar is barely moving on Tuesday afternoon. The current quotation of the main currency pair is 1.0972, and is slightly higher than yesterday...

Indices attempt to post December gain

Movements in the currency markets have been a little benign this week, meanwhile indices have jumped higher as Christmas cheer engulfs investors. We are still some way off where we started the month of December on European indices...


The ECB undermined the euro

On Thursday afternoon, the main currency pair remained under pressure due to yesterday's news about the readiness of the regulator to extend QE. The single European currency on Thursday afternoon is still in a weak position, as investors continue to analyze the information obtained yesterday...

Statistics have upset the Pound buyers

The British pound rose against the dollar for a third day in a row away from local minima. Current quote in the GBP/USD pair is 1.5253. Today data came out on retail sales in the UK in October...

The British pound is back to the September lows

The British Pound is weakening for the third day in a row, but it would all be well if not for the indicators of force from the "bears" in the GBP/USD pair. The current quote in the pair is 1.5127, and it is not far off from the September minimum of 1.5107...


Murrey Math Lines 04.11.2015 (EUR/USD, SILVER)

Eurodollar is still being corrected. The price is trying to stay below the 0/8 level. Possibly, on Wednesday the pair may test the previous high one more time. If the market rebounds from it again and stays below the 0/8level, I am planning to increase my position...

The dollar rose again

On Thursday morning, the main currency pair is still trading down because of mass pressure on the European currency. So, the euro/dollar in the morning on Thursday remained under pressure, although it is taking a very half-hearted attempt to win back at least a symbolic part of yesterday losses...

The yen slightly retreated

The Japanese yen was being sold yesterday and continues to be sold today. The current price of the USD/JPY pair is 119.15. Technically, the instrument clearly intends to move to 120.0 and maybe slightly higher...

  


Share: