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Greek talks in focus of steadier Friday's session

Friday, May 15 2015
After yesterday's holiday, European markets are back again, but lack on any data could effect volatility. With that being the case markets are focused on another round of negotiations between Greece and its creditors. There is a growing risk that it will default on its debt which would create another swathe of panic in the markets. Negotiations over the reform package that Greece needs to implement in order to receive the €7.2 billion bailout funds that were agreed back in February, will continue today although they’re once again unlikely to yield any kind of result. 
 
Despite the positive comments coming from the negotiations, that progress is being made, neither side appears to be backing down in any significant way. Greece has apparently once again offered concessions with the sale of its largest port, Piraeus, but there are a number of other issues that neither side is backing down on. 
 
Aussie is currently being traded few points below 1.14 handle. Pair is likely to find support around 1.1350 level and resistance above 1.1460 area. Later today, in the US session, Empire State Manufacturing Index, Industrial Production and Consumer Sentiment figures are scheduled for a release.
More in this category: « Is Aussie ready for an uptrend? Empire State Manufacturing Index increased less than expected »

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