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26 Jun 2015
EUR/USD faces critical hours
FXStreet (Edinburgh) - The single currency is snapping a positive 3-week streak this week, returning to the mid-1.1100s after testing the 1.1430 region just days ago.
To be continued?
The Greek front remained the exclusive driver of global sentiment during recent weeks, with prospects of a deal running along with rejection of proposals, rumours and counter-rumours, all ending up in empty promises.
There is still hope though, as expressed many times today, to seal an agreement at tomorrow’s Eurogroup meeting ahead of the June 30th deadline, and avoid a Greek default almost surely followed by a ‘Grexit’ scenario.
At the moment it seems to be only a couple of options on the table. However, Greek PM A.Tsipras has already rejected a bailout extension until November and €15.5 billion in funds, arguing he will not oppress the Greek people with further asphyxiating austerity measures, which should be coming as counterpart.
With the trading week drawing to a close markets will have to wait until tomorrow night for a continuation (or not) of the Greek saga.
To be continued?
The Greek front remained the exclusive driver of global sentiment during recent weeks, with prospects of a deal running along with rejection of proposals, rumours and counter-rumours, all ending up in empty promises.
There is still hope though, as expressed many times today, to seal an agreement at tomorrow’s Eurogroup meeting ahead of the June 30th deadline, and avoid a Greek default almost surely followed by a ‘Grexit’ scenario.
At the moment it seems to be only a couple of options on the table. However, Greek PM A.Tsipras has already rejected a bailout extension until November and €15.5 billion in funds, arguing he will not oppress the Greek people with further asphyxiating austerity measures, which should be coming as counterpart.
With the trading week drawing to a close markets will have to wait until tomorrow night for a continuation (or not) of the Greek saga.