News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cKOUmtj7Dj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/TnL91f7sl7
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/cDcjl3Ue09
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/KWOX5wSipe
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/cwSWCpKtaj
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/zu5hMovbz6
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/QMKyTBOKNG
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/aRkGoNvj6D
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/ltVTNO2sjT
  • GBP/USD clears the May low (1.3801) as the Federal Reserve forecasts two rate hikes for 2023. Get your $GBP market update from @DavidJSong here:https://t.co/WdTG2niAKz https://t.co/2j02VyH0wm
Euro Sinks in Early Trading on Failure of Private Creditor Negotiations

Euro Sinks in Early Trading on Failure of Private Creditor Negotiations

David Liu, Technical Strategist

Weekend Developments

  • Institute of International Finance chief negotiators leave Athens without a deal
  • PSI (Private Sector Involvement) plan was set to be finished by Monday
  • Greece needs deal before next trance of bailout payments
  • Talks were to be on recovery rate, interest on new loans, and rollover amount

--

Greece once again headlined this weekend’s developments, with markets carefully monitoring results of private sector negotiations with the nation. The Institute of International Finance, whose members include large financial organizations, represented the private sector in negotiations with the Greek government over key points, including the potential amount the banks would have to write off and interest rates on newly issued Greek debt that would be swapped for the old holdings.

Although last year’s Troika talks with Greece indicated that the private sector would take a voluntary 50% haircut on their holdings of Greek bonds, the private sector has yet to accept that plan. This weekend’s talks were supposed to result in an agreement by Monday between private investments and hedge funds. There are reports that the main point of contention is on the interest on new Greek debt that would be exchanged for old holdings in a rollover process.

Markets will keep monitoring the developments from Europe even as the Monday deadline draws nearer. Greece will need a private sector agreement before receiving its next tranche of bailout funds in mid-March. Despite the lack of an agreement, the IIF’s chief negotiator Charles Dallara indicated that he is hopeful of an agreement, with the country’s debt pact “now up to the EU, IMF.”

Weekend_01222012-Greek_PSI_Agreements_body_Picture_4.png, Euro Sinks in Early Trading on Failure of Private Creditor Negotiations

-- By David Liu, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES