The euroarea tensions do not allow EUR to join the market rally

By GG Analyst in Reviews 0 Comment

EUR/USD

The Greeks haven’t agreed on the tougher austerity programme yet. The European leaders, in their turn, are increasing their pressure on the country, urging it to carry out the expenditure cuts sooner. Yesterday the euro had been falling until it reached 1.3030, but then another wave of stop-orders pulled the pair back above 1.31. It happened on the news that the government agreed to dismiss 15000 public sector workers. But it is not enough, and today the debates will be carried out against the background of large-scale strikes. Since the events are long-term, traders currently have a great deal of short more…

Is there another disappointment impending?

By GG Analyst in Reviews 0 Comment

EUR/USD

At today’s summit the European leaders are to sign an agreement on the establishment of the permanent saving fund and balanced public budgets. However, the Greek issue is still weighing heavily on the summit participants. As news agencies report, no agreement has been reached so far during the negotiations with the private sector. Again we hear about some progress, but with such pace it is really hard to discern. On Monday investors are likely to focus on Europe and that may put certain pressure on the single currency. Moreover, it’s also possible that the euro will decline after the two-week growth. more…

European Debt-loaded Countries Calling for Mercy

By GG Analyst in Reviews 0 Comment

EUR/USD

The European finance ministers refused the offer of Greek private debt holders. The country wouldn’t agree to the coupon payment of more than 3.5% while the Institute of International Finance set the minimum coupon level at 4%. The EU and the IMF take up the part of Greece, so the latter looks stronger. The essence of the problem is that the suffering European economies are likely to be in a dejected condition for many years to come. Greece’s GDP has been declining for five years in a row and will keep falling further, as debt payment makes the country to tighten more…