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Eyes still on Greece, with no deal in sight

Monday, Apr 27 2015
Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a phone conversation on Sunday to maintain contact during talks between Athens and its lenders to reach a debt deal, a Greek government official said. "During their communication, they expressed their common will for a steady communication throughout the course of negotiations in order to have a mutually beneficial solution soon," said the official, who declined to be named, as Reuters reports.
 
During a regular meeting at the Latvian capital of Riga on Friday, euro zone finance ministers warned its government that it would get no fresh aid until it agreed to a complete economic reform plan, with Greece being just weeks away from running out of cash. Euro zone ministers - the so-called Eurogroup - bemoaned talks they felt "were going nowhere" and one minister said that maybe it was time governments prepared for the plan B of a Greek default.
 
Responding to reports that he was isolated in debt talks, Varoufakis tweeted a quotation by American statesman Franklin Roosevelt on Sunday which read "they are unanimous in their hate for me; and I welcome their hatred." Varoufakis said the quote expressed his feelings in recent days.
 
Despite Greek crisis euro is being stable recently  currently being traded few points above 1.0850 level. Pair is likely to find support around 1.08 area and resistance above 1.09 handle. There will be no major data releases later today.
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