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
Wall Street
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
More View more
Real Time News
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/fIO9TP7D62
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/Xja8DHUqlH
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/9po5Lg4vnR
  • The Japanese Yen is eyeing the upcoming Bank of Japan rate decision and CPI figures, but JPY crosses will likely remain dependent on broader market sentiment. Get your weekly $JPY forecast from @FxWestwater here: https://t.co/x9rbQpPfWe https://t.co/2x1R5XTVea
  • 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/uCaWQiu4Ly
  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here:https://t.co/XrpV0jcy8e https://t.co/g2To3LmUah
  • RT @michaeljburry: Read thread.
  • The Australian Dollar has retraced from August lows when looking at AUD/JPY and AUD/CAD. However, the AUD/NZD downtrend is intact, will a reversal there appear as well? Find out: https://t.co/8LmgqLLGJO https://t.co/AueigVsuk4
  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here:https://t.co/OJByiwIppr https://t.co/P1iOONG90N
  • The US Dollar continues to hold its ground against most ASEAN currencies as recent downtrends lose momentum. What is the road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/UcleaZEAaW https://t.co/62bGLvt8fE
Optimism Remains for Last Minute Greek Deal

Optimism Remains for Last Minute Greek Deal

Yash Gandhi,

Talking Points:

  • Reports Out of Europe Suggest Greek Deal Still Possible at EU-Summit.
  • Greek Officials Continue Expresses Frustration Behind Proposals From Creditors.
  • Creditors, Eurozone Finance Ministers, and Greece talks continue at 12:00GMT on Saturday.

The inability of Greece and its creditors to compromise in the last few months has set the stage for a vital meeting on SaturdayJune 27 at 12:00GMT. German Chancellor Angela Merkel argued “tomorrow’s meeting is of decisive character” as the June 30 payment to the International Monetary Fund (IMF) quickly approaches. Athens could potentially receive €15.5 Billion in bailout funds that would cover the bundled payment and give the Greek government greater scope to service its debts with payments to the European Central Bank (ECB) coming up in July.

Sentiments heading into this crucial meeting appear to be optimistic as European Commission President Jean-Claude Juncker sees “a real chance to conclude an agreement.” However, if Tsipras fails to clinch an agreement on Saturday and Greece is forced to default on the IMF bundled payment, capital controls may be imposed, which would prevent an immediate bank run, but the renewed threat for contagion may grip trader sentiment as Greece stands at risk of losing access to the ECB.

Optimism Remains for Last Minute Greek Deal

Despite the threat of a Greek event, recent price action in EUR/USD suggest market participants are largely optimistic on Greece especially as the pair preserves the opening weekly range and continues to close above key support around $1.1120-30, the 61.8% Fibonacci retracement. In turn, a positive development may spur a run towards the monthly high ($1.1435) amid the easing threat for contagion.

However, a greater threat for a Greek default/exit may produce increased volatility at weekly open along with market participants staging a flight to safety. A dismal outcome in Greece may lead EUR/USD to give back the advance from earlier this month ($1.0886) , with a growing risk for a resumption of the long-term bear trend.

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

DISCLOSURES