Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Euro Steadies After Key Events

ByXM Group
AuthorTrading Point
Published 01/27/2015, 03:35 AM
Updated 05/01/2024, 03:15 AM

The euro stabilized at a relatively higher level against the dollar, on optimism that the incoming anti-bailout government in Greece will eventually strike a deal with its creditors and scenarios such as a Greek exit from the Eurozone (so-called “Grexit”) will be avoided. The euro was trading near its highs for the session just below 1.1250, having hit a low of 1.1096 right after the Greek election results were announced. The new Greek Premier would announce his cabinet today and the focus of everyone will be how the negotiations with the Troika will proceed.

Risk appetite remained positive as optimism lingered following the ECB’s larger-than-expected QE package.

The pound was also trading just below the 1.51 level against the dollar, as it awaited the fourth quarter GDP figures. The UK economy was grew at a 2.8% year-on-year pace, according to a Reuters’ economists poll.

Markets were also expecting the outcome of the FOMC meeting tomorrow as the 2-day meeting begins today. US interest rates are expected to head higher during the fourth quarter, according to futures’ markets. Trading in the US is slower-than-usual as a huge snow blizzard hit the Northeastern United States. In a busy day for economic data watchers, US durable goods orders for December, S&P Case-Shiller home prices, Markit Services PMI and New Home Sales for December are all coming out in the United States.

Finally the Russian Rouble fell sharply against the US dollar following the downgrade of Russian debt to junk status by Standard & Poor’s. The agency cited decreasing economic growth prospects and limited monetary policy flexibility to deal with the downturn. A recent intensification of the conflict in Ukraine has also increased the focus on geopolitical risk recently.



3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.