Traders Focus Returns to Greece

Forex News and Events: With the Goldman Sachs story clearly fading from the markets collective memory and meteorology bugs sent back to the weather channel, investors once again had time to focus on Greece. Yesterday Greece raised €1.95 billion ($2.63 billion) through a 3-month Treasury- bill auction to yield 3.65%. While demand was firm and [...]

EUR/USD Weakens on Goldman, Greece Concern

The Euro weakened at the start of the week as the SEC’s allegations against Goldman Sachs dampened demand for riskier currencies. The fraud allegations should only have near term reaction as global fundamentals continue to point to a firm recovery. Greece continues to be the biggest pressure on the single currency as the outlook remains [...]

Forex: The Risk Today

The Risk Today: EurUsd Risk appetite has continued to struggle since the Goldman inspired equity market slump on Friday, and EURUSD has also been weighed by the ash-triggered paralysis of European travel networks and the possibility of Greece activating the EU/IMF bailout mechanism appearing ever closer. We are now approaching a critical juncture for the [...]

Market dwells on hopes of a weekend rescue plot for Greece

The tremendous weight of pressure thrust upon Greece this week and the resultant broad euro currency weakness has electrified market talk that a weekend intervention is a distinct possibility. The euro has rebounded alongside a strong rally for Eurozone stock markets and shares in Greek banking stocks as the market hopes to get a glimpse [...]

EUR/USD All Eyes on Greece (1.3400)

The Euro recovered from a 1.3283 low yesterday, as ECB President Jean-Claude Trichet soothed fears of a Greek default. Trichet not only played down the likelihood of a Greek debt default, but also noted he was not completely opposed to IMF aid. EUR/USD is also getting a boost on growing speculation that assistance to Greece [...]

Markets Focus on Greece & China

Forex News and Events: Markets are now completely focused on the situation in Greece and possible CNY revaluation. Everything else has just faded into the background. Greece debt came under heavy selling yesterday, with yield reaching 7.40% nearly 450bps over their German equivalent. Greece CDS are trading at nearly 6.50%, now 100bps above already bankrupt [...]

Greece Just Can’t Get a Break

Forex News and Events: Things continue to get worse for Greece, which has been weighting on the EUR. An FT article reported that more than €10bn of deposits have been withdrawn the four largest Greek banks, forcing them to ask the Greek government for extra liquidity (from remaining Bank Support Package). This is not a [...]

Afternoon Forex Overview

Previous session overview The euro declined Wednesday as worries increased about the cost of financing Greece’s debt. The fall comes even as euro zone private-sector output grew at its strongest rate in 31 months in March, on the back of a surge in activity in Germany. Despite the rosy data, investors seem unable to look [...]

Next Page »