Tag Archives: Euro

Syriza Wins, Euro Falls and Recovers

The Greek opposition party Syriza won a resounding victory in Sunday’s election promising to end the austerity policies that have crippled the economy and given Greece the highest unemployment in Europe. While promising to keep Greece within the euro, Syriz’a leader and the new Prime Minister Alexis Tsipras, campaigned on ending the austerity programs forced

26 Jan: No reprieve for the Euro (or the $Aud) ahead of this week’s FOMC. Greek election result, IFO today.

The Euro took another beating on Friday as it heads its way quickly towards 1.10. The Aud fared little better and it looks as though the RBA wish for a 0.7500 Aud is not so far away. This weeks highlights will come via the FOMC Meeting (Wed) and US GDP(Friday). There is plenty else besides,

23 Jan: Euro at 11 year low (and heading lower) after ECB QE announcement. Equities higher.

The long awaited ECB QE programme has now been revealed, and with Mario Draghi announcing an asset buying programme of Eur 60 bio per month commencing in March and continuing until September 2016, the Euro has duly headed sharply lower. Global equities liked what they saw and have all seen a decent rally, with the Dax

Today’s Trading Edge: Could #ECBQE mean 1.10 for the euro?

ECB President Mario Draghi is doing whatever it takes to stimulate the Eurozone economy.  Today’s historic QE decision is trying to combat deflation by purchasing 60 billion euro per month, beginning in March until September 2016.  This will continue to provide a strong backdrop for euro short positions.  Price action today was extremely volatile.  The

22 Jan: Euro volatile, but holding above the lows ahead of today’s ECB meeting. A busy session coming up.

The Euro has had a choppy session ahead of today’s ECB meeting, with various leaks causing a squeeze higher and then a reverse, to finish the session not too far from where it started.  The Aud and the Kiwi both saw some decent damage done, on the back of a surprise easing from the BOC, sending

19 Jan. A big week ahead for the Euro. ECB meeting (QE?), Thursday, Greek election Sunday.

Another day, another trend low for the Euro on Friday. This comes ahead of this weeks all-important ECB meeting where Mario Draghi will almost certainly announce that some form of  EZ QE is about to get under way, which will be followed by the Greek election, Sunday, where a left wing victory looks to be on the

9 Jan: Euro recovers from another multi year low. Focus now on China’s CPI and the US Jobs /NFP data.

Soft EZ data saw the Euro head to multi year lows of 1.1753 before a recovery to sit close to 1.1800, while Cable gave 1.5000 a nudge before squeezing back to 1.5100. The Yen was rangebound below 120.00 while the Aud and Kiwi both made solid gains. There will be no report today as I am

6 Jan: Dollar mixed as stocks, oil head sharply lower. Possible Greek EU exit pressuring the Euro.

Greek EU exit/default rumours had the Euro under heavy pressure early in today’s session, although the dollar was unable to to take further advantage of the weak German State inflation data, as it came under some pressure of its own once oil prices again fell heavily, taking the stock markets with it. More choppy action looks

Euro Falls to Nine Year Low

The odds may be long that Greece leaves the euro, considerably less that the ECB will start quantitative easing soon and no better than even that the Fed will  begin to raise rates by June. The speculation on any one of these events would be enough to put the euro on the defensive. All three

Today’s Trading Edge: EUR/USD –Euro collapse continues after runaway gap

EUR/USD continues to sink as fears grow that Greece may leave the euro.  Price action on the 30 minute chart displays a runaway gap that shows a continuation of the downward move with price blowing right by the 1.20 psychological handle and making a new 9-year low at 1.1862.  Last week’s euro post highlighted the

Euro Falls on Building Greece Instability Concerns Before Election

DailyFX.com – Want to trade with proprietary strategies developed by FXCM? Find out how here. Talking Points: Euro Falls on Building Greece Instability Fears Before Jan 25 Election EURUSD Falls Below 1.1900 Figure For the First Time Since 2006 Follow the Latest Market Developments with the Real Time News Feed A poll conducted by the

Today’s Trading Edge: EUR/USD –Draghi QE comments sink euro

EUR/USD hit my downward target of 1.2050 after comments from ECB President Mario Draghi highlighted the increased likelihood of seeing a large-scale quantitative easing program out of Europe.  The exchange rate fell to a new 4 ½ year low to 1.2209.  Another key bearish driver was the IMF COFER that announced that euro global reserves