19 Feb 2015
EUR/USD around 1.1370, Greece loan eyed
FXStreet (Edinburgh) - The shared currency seems to have found some buying interest around the mid-1.1300s, now pushing EUR/USD back to the 1.1360/70 band.
EUR/USD muted on ECB accounts, focus on Greece
The ECB has published its version of the minutes, called ‘accounts’, from the January meeting, in which the central bank announced the implementation of a 18-month QE programme. The ECB showed a split vote regarding further easing under QE, although a larger number of members favoured sovereign bond purchases. Some members also considered buying corporate debt. According to the accounts, the bond purchases will continue until the inflation goal is achieved.
In another direction, and currently hurting the European currency, Germany has rejected the recent Greek proposal of a loan extension, adducing it is heading towards a ‘bridge loan’ and it is not meeting the demands of the programme.
EUR/USD significant levels
As of writing the pair is losing 0.25% at 1.1369 and a breach of 1.1355 (low Feb.19) would aim for 1.1351 (21-d MA) and then 1.1320 (low Feb.16). On the upside, the initial hurdle lies at 1.1450 (high Feb.17) followed by 1.1486 (high Feb.6) and finally 1.1499 (high Feb.5).
EUR/USD muted on ECB accounts, focus on Greece
The ECB has published its version of the minutes, called ‘accounts’, from the January meeting, in which the central bank announced the implementation of a 18-month QE programme. The ECB showed a split vote regarding further easing under QE, although a larger number of members favoured sovereign bond purchases. Some members also considered buying corporate debt. According to the accounts, the bond purchases will continue until the inflation goal is achieved.
In another direction, and currently hurting the European currency, Germany has rejected the recent Greek proposal of a loan extension, adducing it is heading towards a ‘bridge loan’ and it is not meeting the demands of the programme.
EUR/USD significant levels
As of writing the pair is losing 0.25% at 1.1369 and a breach of 1.1355 (low Feb.19) would aim for 1.1351 (21-d MA) and then 1.1320 (low Feb.16). On the upside, the initial hurdle lies at 1.1450 (high Feb.17) followed by 1.1486 (high Feb.6) and finally 1.1499 (high Feb.5).