Euro little changed in a steadier morning part of the session

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Monday, Apr 13 2015

There are no major data releases from Eurozone today. Euro was little changed in the morning part of the session being traded around 1.06 handle. Also, there are no data releases in the US session, and it seems that effect of much weaker than expected NFP figures has fade away. With that being the case traders should be more focused on global concerns primarily Greek bailout crisis. Greek Eurozone partners are loosing their fate in Greek government dedication to go with all necessary measures.

A Grexit becomes more likely each day. Even if it survives the next three months teetering on the brink of bankruptcy, Greece may have blown its best chance of a long-term debt deal by alienating its Eurozone partners when it most needed their support. Prime Minister Alexis Tsipras’ leftist-led government has so thoroughly shattered creditors’ trust that solutions which might have been on offer a few weeks ago now seem out of reach.

Euro is currently being traded slightly above 1.06 handle. Pair is likely to find support around 1.0550 level and resistance above 1.0650 area. There will be no major data releases in the rest of the session.

More in this category: « Sterling still in a downtrend Markets steadier in an uneventful Monday's session »

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