Is ECB ready for Greek exit from Eurozone?

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Friday, Feb 20 2015

After mixed PMI figures investors turned their attention to Eurogroup Meeting discussing Greek situation. It seems that both sides are testing each other patience waiting for now of them to back up and admit defeat. What is quite sure is that Greece deal is looking unlikely by tonight. Along with the meeting German magazine Spiegel published that ECB officials are preparing for Greek exit from Eurozone.

The International Monetary Fund ( IMF ) holds a Greek exit from the monetary union for the rest of the euro zone manageable. The Europeans had pulled up in recent years firewalls that may prevent skipping the crisis to other countries, according to Washington. For a Greece leaving the euro zone would be related to the IMF, with significantly higher costs than if the country would be free to pursue further reform.

Euro was pushed down during today's session and is currently being traded few points above 1.1280 area. We can expect support around 1.1270 and 1.1250 in extension. Later today, US Manufacturing PMI figures are scheduled for a release.

More in this category: « UK Retail Sales fell by 0.3% U.S. Manufacturing PMI rose to 54.3 »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Menu

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.