Greece remains biggest determinant to EURUSD movement

February 20, 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.

Publication source
FxPro information  FxPro reviews

December 6, 2016
Cash rates remain on hold at 1.5% as expected
Asian stock markets managed to move mostly higher, after gains in Europe and on Wall Street yesterday. The Italian MIB closed with slight losses Monday, but it seems investors quickly got over the widely expected rejection of Italy’s constitutional reform and Renzi resignation...
December 6, 2016
AUD fell on RBA statement
The Reserve Bank of Australia decide to leave its policy settings unchanged. Such a decision was widely expected. The main, cash rate was left unchanged at 1.5% as expected by every analyst surveyed by Bloomberg...
December 6, 2016
Markets become increasingly acclimatized to negative news - adjustments never faster
Investors are getting used to bad news, and the lessons learnt in the past couple of months were implemented on Monday after the Italian referendum results...

FOREX.com Rating
EXNESS Rating
Larson&Holz IT Ltd Rating
Tickmill Rating
Trade360 Rating
Orbex Rating

TropicalTrade Rating
365BinaryOption Rating
OptionFair Rating
Banc De Binary Rating
Anyoption Rating
Porter Finance Rating