EUR/USD depressed around 1.1320

FXStreet (Edinburgh) - The shared currency continues to trade in the vicinity of the critical support at 1.1300 on Friday, with EUR/USD hovering over 1.1325/20 at the moment.

EUR/USD softer on Greek uncertainty

The offered tone remains intact around the EUR today, against the backdrop of increasing uncertainty and rumours regarding today’s meeting between Greece and the Eurogroup. Latest news from both parties was signaling that further meetings might be needed in order to clinch a deal, downplaying somehow today’s outcome and thus extending further the final decision on the Greek tale.

No further data releases expected in the euro bloc today, whereas Markit’s manufacturing PMI is due across the pond.

EUR/USD key levels

As of writing the pair is losing 0.32% at 1.1322 and a break below of 1.1303 (low Feb.12) would target 1.1270 (low Feb.9) en route to 1.1262 (low Jan.29). On the upside, the initial hurdle lies at 1.1450 (high Feb.17) followed by 1.1486 (high Feb.6) and finally 1.1499 (high Feb.5).

Brinkmanship, yes, but where is the brink? – BBH

The Brown Brothers Harriman Team explains that the key is not when the program ends, but when Greece has to service its debt, noting that the brink might not be February 28th but few days into March.
Baca lagi Previous

Greece and Eurozone close to a deal? – TDS

Cristian Maggio, Head of Emerging Markets Research at TD Securities, notes that divergence between Greece and Germany remain substantial but there are reports going around which suggest a deal is underway.
Baca lagi Next