Euro recovered its losses after ‘No’ vote
Dear Traders, The euro slipped sharply to 1.0970 on Greece’s ‘No’ vote. Greece voted with a 61 percent majority against further austerity demanded by creditors, rejecting of further spending cuts and tax increases. While Prime Minister Alexis Tsipras described the result as a “great victory”, seeing himself with a strengthened hand now, the result also […]
U.S. Economic Data in Focus
Dear Traders, Uncertainty dominates the markets which is reflected in the directionless sideways moves of the major currency pairs. These are not good conditions for traders as the lack of a trend does not provide greater profits. In addition, spontaneous and unexpected market reactions pose a greater risk to day-trades. The Greek debt crisis and possible […]
Crucial Week
Dear Traders, We welcome you to a new trading week which promises to be a week of fireworks. After the breakdown of Greek aid talks, markets will now have to deal with the possible effects for the eurozone. Currently it seems as if the optimists on a Greek debt deal were wrong after the weekend developments […]
EUR/USD lacks direction
Dear Traders, Our problem child EUR/USD has been very costly to traders since it lacks direction on Greek risk. The euro’s intraday moves seemed indifferent to the Greek debt talks and provided almost no profitable chances for daytraders. The euro is rather moving sideways, lagging behind profitable trading days. We still need to be patient […]
Solution for Greece today?
Dear Traders, The U.S. dollar recovered on an overall positive dollar sentiment. Hawkish comments from FOMC member Powell saying that a first rate hike could come as soon as September, with a second move to follow in December, led further support to the greenback. The market is now shifting again its focus more towards the […]
EU Emergency Summit: Tough Monday?
Dear Traders, Last Friday turned out to be a quite uneventful trading day with both major pairs initially tending downwards but ending the day unchanged against the U.S. dollar. The euro was supported by 1.13 ahead of today’s EU emergency summit in Brussels. The market is still expecting that in the eleventh hour an agreement between Greece […]
