- Samaras willing to tolerate minority government
- Greece’s Tsipras: There must be a moratorium on Greek debt repayments
- Spain PM Rajoy: Spanish funding market shuttered
- Spain to order large bank capital buffers
- Monti convinced eurobonds coming one day
- IIF’s Dallara: European austerity may have gone too far
- EU to discuses Greece May 16
- JOLTS job openings rise to 3737 from 3565
- Rumors of a US natural gas pipeline cyber attack
- WTI crude down 63-cents to $97.30 after touching $95.25
- March Canada housing starts 244.9K vs 204K exp
- Gold falls to lowest since January
- Greece stocks fall to lowest since 1992
- US 10yr yields fall to 3-month low
- S&P 500 falls 0.4% to 1364
The comments from Tsipras caused lots of chatter about the implications of a Greek eurozone exit, sending the euro to 1.2982. EUR?USD staged a comeback when Samaras said he would be willing to tolerate a minority government. That got the euro to 1.3025 and a later rebound in stocks sparked it further to 1.3043. Optimism has waned late despite the stock market rebound with EUR/USD at 1.3012.
USD/JPY scrambled to 79.91 in the early going but a breakdown in US yields weighed and the pair drifted to 79.74. Late optimism led to a small climb to 79.84.
Repeated efforts to sell GBP/USD below 1.6125 were defended and the pair rebound to 1.6169.
Oil, gold and the commodity currencies were hit with USD/CAD climbing above parity and to 1.0020.
