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
Oil - US Crude
Bullish
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
More View more
Real Time News
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/MGy9OTXpUI
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/Gps2Xp32h9
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/hftCEho1lM
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here: https://t.co/MzaIl7tPmZ
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/rFlQtyQS81
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
Greek PM, FM Hit Road for Meetings with Key EU Officials

Greek PM, FM Hit Road for Meetings with Key EU Officials

Harry Coundouris,

Talking Points:

- Greek PM Tsipras meets with EC President Juncker in Brussels.

- Greek FM Varoufakis set to meet with ECB's Draghi, Germany's Schaeuble.

- Promises of reform from Greek leadership appear to be scaling back.

Today, the most crucial meeting was that between the Greek Prime Minister Mr. Alexis Tsipras and the European Commission President Mr. Jean-Claude Juncker in Brussels. The main discussion was on the Greek proposal for some kind of a debt swap, which has already been expressed by the Greek Finance Minister Mr. Yannis Varoufakis. In fact, the proposed scheme for the debt restructuring is not a “haircut”, as initially thought, but a financial engineering solution.

Today Mr. Varoufakis had also arranged a meeting with the President of the ECB Mr. Mario Draghi in Frankfurt and tomorrow is about to meet with the German Finance Minister Mr. Wolfgang Schaeuble. Greek finance minister's meeting with Mr. Draghi was of paramount importance. ECB tries to remain sober relative to any political negotiation but it is indeed the case that Greece needs to be in a program in order to satisfy the credit rating prerequisites set out from ECB.

There is also a widespread understanding that Germany is closing fast any maneuvering to the Greek government. In the meantime, the internal climate in Greece is in a transitional period and a new political and economic balance is trying to take shape.

After the Greek Elections and the aggressive spirit of the new government during the first week, the environment is gradually changing and it seems that the governing political party SYRIZA cares to convince Europe and Markets that is has a serious plan to get the country out of the crisis. Its success in persuading the country’s creditors that this plan is realistic and applicable will depend on the chemistry that will be created between the two sides.

However, the far left strand of SYRIZA feels quite uncomfortable with the news hitting the wires that Greece has tone down its demands considerably. This is of some concern going forward for the internal political equilibrium within the governing party.

EURUSD Intraday Chart (5-minutes) - February 4, 2015

Greek PM, FM Hit Road for Meetings with Key EU Officials

Read more: Greek Debt Optimism Gives Life to EUR/USD

--- Written by Harry Coundouris and Eleftherios Stakias, DailyFX Greece Senior Analysts

To contact Harry Coundouris, please email instructor@dailyfx.com

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

DISCLOSURES