Greece remains biggest determinant to EURUSD movement

20 February, 2015

The market continues to behave as if a resolution to the Greek issue is imminent and it would seem that investors remain confident that a Grexit is not going to happen. Despite the lack of an agreement to the extension of the existing bailout, EURUSD has held up relatively firmly and other risk assets such as equity indices remain near their all time highs. For the Eurozone as a whole, the economic outlook doesn’t look all that bad with business, confidence and manufacturing surveys remaining relatively robust. Today sees a raft of manufacturing data from the Eurozone which is expected to rise with the French, German and Europe wide PMI figure due post an increase. The wider Greece picture however is more likely to determine how EURUSD will move today.

GBPUSD also continues to defy gravity as recent UK data has allowed cable to breakout of its medium term downward trend. Trading at 1.5430 at the time of writing retail sales data this morning will be watched. This week the data for the UK has been sterling supportive, even if the headline inflation figure fell to its lowest level on record, the core number rose more than forecast and average earnings were impressive. Later in the day the US manufacturing PMI number should be monitored as a better than expected figure could lend the dollar a hand.


Source link  
Political Turmoil in Germany Hurts EUR

The EUR lost ground against many of its peers on Monday on news that Chancellor Angel Merkel’s efforts to form a coalition government had collapsed...

USD Suffers on Subpoena News

The Trump Administration is back in the spotlight with news of a report that Special counsel Robert Mueller’s investigators have issued a subpoena...

Positive data negated by tax plan opposition

The US Labor Department released data on Wednesday showing the consumer price index edged up by 0.1% in October after climbing by 0.5%...


Data Boosts EUR Can CPI Boost USD?

EUR received a boost on Tuesday, as data from Destatis showed German Preliminary GDP climbed to 0.8% in Q3, beating forecasts of 0.6%. In addition...

Chinese Data Disappoints

China’s economy has been robust throughout 2017 as a continued recovery in manufacturing and industrial sectors, a healthy property market...

Data & Polls Pressure Sterling

Sterling suffered downward pressure on Tuesday as the latest monthly report from the British Retail Consortium showed non-food sales slumping...


Closing the Year on a Strong Note

Data released on Monday indicates that the Eurozone economy is on target to close out 2017 strongly. The latest Markit composite PMI fell...

Sterling Falls on Rate Rise

In line with market expectations, the Bank of England raised the UK base rate to 0.5% (from 0.25%) on Thursday. The rise, the first in 10 years, was widely...

Another Political Headache for Trump

USD gave up some of its recent gains on news that investigators had charged President Trump’s former campaign manager regarding...

  


Share: