交易新闻
20 Apr 2015
Greek debt concerns weigh on euro
FXStreet (Córdoba) - The US dollar recovered some ground on Monday, particularly versus its European competitors, with growing Grexit concerns weighing on the euro.
In the absence of major economic data, EUR/USD was mainly driven by concerns about Greece debt situation. The Eurogroup will meet on April 24th but many officials have suggested an agreement that will grant Greece a new tranche of aid is unlikely before May 11.
EUR/USD fell more than 100 pips throughout the day and bottomed out at 1.0712 at the beginning of the New York session. The pair closed the previous week with gains as the dollar weakened on the back of soft US data.
Meanwhile, the pound also fell versus the greenback with uncertainty over the upcoming UK general election taking its toll. GBP/USD dropped briefly below 1.4900 after being rejected from the 1.5050 area last week.
Currencies linked to commodities also retreated versus the greenback despite People’s Bank of China decision to cut its reserve ratio requirement (RRR) on bank deposits to boost lending and spur economic growth.
As for US stocks, main indexes advanced amid better-than-expected earning reports. Gold fell back below $1,200 an ounce while oil staged a nice comeback and settled above $57 a barell after falling sharply during the European session.
In the absence of major economic data, EUR/USD was mainly driven by concerns about Greece debt situation. The Eurogroup will meet on April 24th but many officials have suggested an agreement that will grant Greece a new tranche of aid is unlikely before May 11.
EUR/USD fell more than 100 pips throughout the day and bottomed out at 1.0712 at the beginning of the New York session. The pair closed the previous week with gains as the dollar weakened on the back of soft US data.
Meanwhile, the pound also fell versus the greenback with uncertainty over the upcoming UK general election taking its toll. GBP/USD dropped briefly below 1.4900 after being rejected from the 1.5050 area last week.
Currencies linked to commodities also retreated versus the greenback despite People’s Bank of China decision to cut its reserve ratio requirement (RRR) on bank deposits to boost lending and spur economic growth.
As for US stocks, main indexes advanced amid better-than-expected earning reports. Gold fell back below $1,200 an ounce while oil staged a nice comeback and settled above $57 a barell after falling sharply during the European session.