30 Mar 2015
EUR/USD weighed by Greek woes – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that EUR/USD will stay reactive to the Greece funding woes for today, with creditors set to deliver a decision on Greece’s reforms today.
Key Quotes
“The EUR/USD pair rose to a high of 1.1050 last week, before finishing at 1.0893. The upbeat economic reports out of the Eurozone, coupled with the ECB President Draghi’s upbeat view on the economy supported the shared currency. However, the rebound in the US Treasury yields, and the Greece issue made sure the pair remained below 1.10 levels.”
“Moreover, the markets are likely to look past the German CPI data today and focus on Greece funding woes. Greece’s creditors are expected to deliver a decision on the Greece’s reform plan. If accepted, it shall unlock the next round of bailout funding on Friday.”
“Athens faces EUR 5.8 billion in maturing debt this month in addition to the day-to-day financing needs.”
“An acceptance of the reforms list of Greece’s creditors could see the pair rise back to 1.0950 levels. On the other, the rejection of the reforms list could push the pair back to 1.08.”
Key Quotes
“The EUR/USD pair rose to a high of 1.1050 last week, before finishing at 1.0893. The upbeat economic reports out of the Eurozone, coupled with the ECB President Draghi’s upbeat view on the economy supported the shared currency. However, the rebound in the US Treasury yields, and the Greece issue made sure the pair remained below 1.10 levels.”
“Moreover, the markets are likely to look past the German CPI data today and focus on Greece funding woes. Greece’s creditors are expected to deliver a decision on the Greece’s reform plan. If accepted, it shall unlock the next round of bailout funding on Friday.”
“Athens faces EUR 5.8 billion in maturing debt this month in addition to the day-to-day financing needs.”
“An acceptance of the reforms list of Greece’s creditors could see the pair rise back to 1.0950 levels. On the other, the rejection of the reforms list could push the pair back to 1.08.”