The euro gradually strengthens its positions

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro is slowly but steadily recouping its losses against the dollar. The single currency is oscillating around 1.3255, but can already boast a series of rising lows. This means that the currency is bought on the dips and that it is ready to take higher levels. As to news, Spanish appeal for mercy is of real interest. Spain’s Prime Minister asked the EU to raise the budget deficit target from 4.4% to 5%. Rajoy called it impossible to reach such a tough budget austerity. He is right, but all this suggests that the EU’s numerous concessions to Greece take their 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…

Greeks agreed on austerity – euro-bulls breathed a sigh of relief

By GG Analyst in Reviews 0 Comment

EUR/USD

The Greek parties adopted a package of fiscal austerity. 199 out of 300 deputies voted for the adoption of the package. 43 voted against and thereafter were expelled from their parties. The voting was held against the background of fierce riots in the streets of Athens and other large cities. However, all that along with the approaching elections did not prevent the austerity adoption which is to be followed by the allocation of money from the EU/IMF. The news in itself is good; the euro bounced up to 1.3260 during the Asian session, thus having almost made up for the decline more…

The Greek tragedy is not over yet

By GG Analyst in Reviews 0 Comment

EUR/USD

The story with Greece’s adoption of the austerity package in exchange for private debt restructuring and another aid package from the EU/IMF has virtually wearied everyone. And formally this story is not over yet. As it turned out, the Greek Prime Minister negotiated the details of austerity measures with representatives of the troika, who said they first wanted to see the legislative approval of saving measures and only then would consider the aid payment. Of course, the last point will be mainly formal and therefore quick to settle. It is to take place at the upcoming weekend. However, the troika’s fears more…