Markets hardly believe that the Greek saga is over and stay nervous

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency didn’t manage to show any significant dynamics yesterday. Despite the positive reaction of the market to the approval of a Greek bailout package, the euro sales broke out. But as there were no strong reasons to sell the euro, the downward movement didn’t get any support either. The euro got stuck between 1.32 and 1.33. But this concerns only EUR/USD. Against the Aussie, yen and pound, EUR feels much stronger. Risk demand manifests itself in the strengthening of equity markets and rise in the price of gold. Oil rides its own wave – geopolitics – but on the more…

Is it the end of the Greek drama?

By GG Analyst in Reviews 0 Comment

EUR/USD

Private lenders have agreed to write off the Greek debt by 53.5%, though earlier it was negotiated to cut the nominal face value by 50%, which corresponds to the 70% loss of the net present value. In addition, it’s been reported that an agreement on the second bailout package was also reached. Actually, rumours about a good state of affairs were circulating around the market all day yesterday, thus maintaining a high demand for the euro. The single currency got stronger yesterday and is now trading near 1.3270, compared with Monday’s opening level of 1.3150. Now it’s possible to say that more…

Growth in demand for risk on the optimism around the Greek deal and Chinese easing

By GG Analyst in Reviews 0 Comment

EUR/USD

The week began with quite an optimistic growth in global stock markets and strengthening of risk-sensitive currencies. The euro didn’t stand aside either, having risen up to 1.3230 at the opening. The euro is growing as, fortunately, over the weekend there haven’t appeared any factors that could prevent or postpone the Greek deal. The decision on another 130 bln aid package to Greece is to be taken today. The confidence of markets has increased after Merkel made it clear that the finance ministers are prepared to support the allocation of funds to Greece. This would be a logical step since the more…

Euro has bounced up on hopes around the Greek agreement

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency fell below 1.30 during yesterday’s trading, but the increased optimism about the Greek deal caused a surge of growth in the single currency and it is now trading at 1.3130. The Greek politicians have announced that Europe’s finance ministers will decide on the allocation of funds on Monday, February 20. This is exactly one month before the crucial payment to redeem the bonds by €14.4 billion. Now we can only keep our fingers crossed that neither Greek nor any other politicians will invent something worse over Friday and the weekend. Remember that earlier the markets expected the decision more…

Another pledge of China to help Europe supported EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the euro was moving as if it were on a swing. After a certain growth above 1.32 at the start of trading in London there followed sales of the single currency. The euro weakened on the speech of Mr. Samaras, the New Democratic Party leader, who said that the adopted austerity measures wouldn’t last for long and that already after the elections they would be ignored. The most disturbing thing in this story is that Samaras is the leading candidate according to the preliminary polls. On springing fears the single currency fell to 1.3080 at the end of the day more…