A huge moutain to climb

11 February, 2015

The Eurozone finance ministers meeting today to discuss Greece looks unlikely to result in a deal, so the best markets can hope for is some sign of progress because so far there have not been any of real substance. There were some rumours yesterday that there was a softening on the part of EU leaders towards a lengthening of the bailout agreement which expires at the end of this month, but as far as Greece is concerned, they want something new, rather than a revised version of what is already in place. So neither side can even agree on what needs to be negotiated, hence the limited chance of anything substantial falling into place today. This does put the single currency on a more vulnerable footing overall.

The Greece meeting comes later in the day, but there is little on the calendar to distract markets ahead of then. Overnight tonight there is some interest with labour market data in Australia, where the unemployment rate is seen rising up to 6.2% (from 6.1%). The ‘surprise’ easing from the RBA has put a renewed focus on the economy and the labour market has been a point of strength in the wider picture, so any signs of further than expected weakening could put the Aussie under renewed pressure. The oil exporting currencies, such as the NOK and RUB have done fairly well of late on the back of the oil price recovery, with the rouble around 5% firmer vs. levels prevailing before it unexpectedly cut rates, which has so far served as a good omen for some stability going forward. Finally, cable is likely to be subdued ahead of tomorrow’s Inflation Report, where further hints of interest rate policy going forward will be sought. We still see the BoE holding rates steady for the remainder of the year.


Source link  
Consumer Sentiment Index Close to Higher

US Fed Boston President Rosengren is due to deliver the keynote speech on the economic outlook, at the Greater Boston Chamber’s Economic Outlook Breakfast...

Chinese president soothes worries

With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers...

Markets fall after more tariffs proposal

Friday's session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B...


Korea gets exemption on steel tariffs

The US and South Korea have reached agreement on a Trade deal that comes with the added bonus for South Korea of a permanent exemption from...

EU Publishes List of Tariffs on US Goods

Over the weekend, the EU published a list of tariffs on US products in response to the US tariffs on Steel and Aluminium. The total value of EU tariffs...

Consumer Price Index and Housing Starts

Eurozone Consumer Price Index – Core (YoY) (Feb) will be released. The consensus points to an unchanged value of 1%. Consumer Price Index...


USD Weakens as Risk-Off Returns

Yesterday, the US announced Tariffs on Steel and Aluminium, which prompted an outcry from various global leaders and an acceleration in the...

Volume of data put US in focus

US Gross Domestic Product Annualized (Q4) was as expected at 2.5%, from 2.6% previously. Gross Domestic Product Price Index (Q4) was 2.3%...

Markets wait for new Fed chairman Powell

The ECB’s Coeure spoke in Frankfurt at a working group meeting regarding euro risk-free rates. He said that a reform of reference interest rate will...


In the past 24 hours Bitcoin has gained 4.28% and reached $9235.79. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.8472% and is now at $1.2279. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 33.22% and is now at $679.509. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro84%
5FIBO GroupFIBO Group82%
6FXCMFXCM70%
7XMXM68%
8Fort Financial ServicesFort Financial Services67%
9Alfa-ForexAlfa-Forex66%
10HotForexHotForex66%
  


Share: