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29 Dec 2014
Eurozone: Traders bracing for Greece’ 3rd vote – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team share that traders are bracing for today’s 3rd round of presidential polls in Greece after the two failed votes this month, with EUR/USD trading in a 30-pip range below the 1.22 handle.
Key Quotes
“In the euro zone, traders are bracing for Monday's 3rd round of Presidential polls in Greece after two failed votes this month. PM Samaras, who had previously offered early elections if his candidate is elected, reiterated he is doing everything in his power to prevent a political crisis after his party received 168 Parliament votes, shy of the 180 it will need in the 3rd round on Monday. German Fin Min Schaeuble said that any new Greek govt would have to abide by prior commitments to ensure continued external support.”
“Separately out of Germany, Bundesbank head Weidmann said low oil prices would take inflation lower than expected but also boost economic growth by as much as 0.2-0.3% in 2015, as estimated by the Economy Ministry. Weidmann also reiterated his opposition to sovereign bond purchases - sentiment shared by commentary from the Head of German Govt advisors (wisemen) Schmidt."
“In USD majors, EUR/USD traded in a 30-pip range just below $1.22 handle, USD/JPY was in a 30-pip range above ¥120.30, and AUD/USD entered afternoon hours up 20pips around $0.8130. Chinese yuan was also on the back foot for the second session as USD/CNH rose 1.5c above CNY6.225.”
Key Quotes
“In the euro zone, traders are bracing for Monday's 3rd round of Presidential polls in Greece after two failed votes this month. PM Samaras, who had previously offered early elections if his candidate is elected, reiterated he is doing everything in his power to prevent a political crisis after his party received 168 Parliament votes, shy of the 180 it will need in the 3rd round on Monday. German Fin Min Schaeuble said that any new Greek govt would have to abide by prior commitments to ensure continued external support.”
“Separately out of Germany, Bundesbank head Weidmann said low oil prices would take inflation lower than expected but also boost economic growth by as much as 0.2-0.3% in 2015, as estimated by the Economy Ministry. Weidmann also reiterated his opposition to sovereign bond purchases - sentiment shared by commentary from the Head of German Govt advisors (wisemen) Schmidt."
“In USD majors, EUR/USD traded in a 30-pip range just below $1.22 handle, USD/JPY was in a 30-pip range above ¥120.30, and AUD/USD entered afternoon hours up 20pips around $0.8130. Chinese yuan was also on the back foot for the second session as USD/CNH rose 1.5c above CNY6.225.”