The somewhat expected downgrade from Moody’s of Greece’s rating to CA has led the euro lower into the European open, but with all eyes on the US now, dollar is finding little respite following the collapse in talks over the weekend.
Data this morning includes:
France’s quarterly Industry survey at 0645GMT
UK BBA banking data at 0830GMT
EUR/USD is around 1.4370 after recent lows around 1.4340 following Moody’s announcement, but some support is seen below at 1.4300/10 where the 50 and 100 day MA’s converge. A barrier at 1.4450 looks likely to be protected above for a while with offers lined up from around 1.4440 ahead of it.
Gerry’s off this week on a much deserved rest,
(Tks Sean for hanging on a bit longer, most appreciated)
