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FOREX NEWS | CURRENCY NEWS BY FOREXLIVE
CNBC says Schaeuble sees Greek deal falling short
Make it stop!
Make. It. Stop.
Juncker: No decision? No disaster
- No final decision today
- Lack of final decision not a disaster
Venizelos: Greece has agreement with Troika, has deal on “basic points” of PSI
Some finer points (ECB participation?) still to be worked out…
German FinMin: There won’t be a result from the Eurogroup meeting today
According to a Reuters headline.
At last, they are downplaying expectations. Well played, Wolfgang.
- Still not clear debt to GDP can be cut to 120% by 2020
Bank of Italy: GDP to fall between 1.2 and 1.5% in 2012
According to Director General Saccomanni, via Bloomberg.
- Lower bond yields are offset austerity drag
- Market tensions have eased
I hate Eurogroup meetings…
Every minister arriving has a microphone shoved in his face and the wires dutifully report his vapid utterances, putting me in the position of having to do the same.
Then they do the same on the way out the door.
With any luck, the meeting won’t end until Sean takes over…
Greek deputy minister resigns over austerity
- Deputy Labor minister Koutsoukos falls on his or her sword in protest
EUR/USD unimpressed, trades at 1.3300.
Equities getting hit
What little Greek euphoria there was in the US equity markets has dissipated completely. The S&P has turned sharply lower and EUR/USD is seeing some profit-taking as well, now at 1.3278.
IMF: To seek assurances from Greece that policies agreed in bailout will remain consistent after April election
- IMF sees scope for further monetary policy ease from the ECB
- Greek negotiations continuing; look to eurogroup meeting for outcome
EUR/USD eyes 100-day moving average at 1.3334
A close above may spook some of the bears, especially those who’re underwater.
Say what you want about EUR/USD but it’s sure bid to old boots at the moment.
Hard to get excited on the downside until we get back below the 1.3200 area. So far there have been steady buyers on dips into the 1.3210/30 area the last few sessions.
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