CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Greece talks continue to confuse the EUR

Article By: ,  Financial Analyst
February 18, 2015 9:16 AM

With the Greece and Eurogroup discussions and negotiations still on-going, yesterday was a battle for the Euro as the comments hit the wires. The main comments to emerge were from the Greek Deputy minister who said that Greece will not seek bailout extension, and will not be blackmailed. So more to come from this and the latest is that a deal could be reached today, although we could see this drag on until the last minute – which is being said to be 27th February. The euro is currently trading back below the 1.1400 level as we await more comments.

The pound was caught within a range yesterday between a high of 1.5400 and a low of 1.5314, which has continued today as it trades bang in the middle of yesterday’s range. The UK inflation data didn’t disappoint, with a further drop to 0.3% yesterday. The GBP took the news rather well as it was prepared for the drop and perhaps any further falls to come.

Today’s data is all important to the recovery of the economy and will be volatile time for the GBP as the average earnings are released and expected not to have moved at 1.7%, with the claimant count change expected to be weaker than last at -25.2k from -29.7. Finally, the MPC official bank rate votes are revealed with the expectation of being the same as last time: a clear 0 for rate increase, 0 for a decrease in rates, and 9 for a hold on rates.

The main data out today will be from the US as the FOMC minutes are released, with the expectations of a moderate growth and rate raise in mid-2015. Some extra bits to look for are the effect of the drop in oil and the ongoing European and Greece affairs. US building permits and PPI are also being released  today with a rise in building permits expected and PPI expected to fall to -0.4%.

 

 

EUR/USD
Supports 1.1345-1.1270-1.1210  | Resistance 1.1470-1.1520-1.1600

 

 

USD/JPY
Supports  118.51-117.80-117.30 | Resistance 119.70-120.15-120.90

 

 

GBP/USD
Supports 1.5315-1.5270-1.5230 | Resistance 1.5400-1.5450-1.5490

 

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024