European markets look to open lower today as the ongoing Greek tragedy continues to play out. A deal to deliver funds to help pay an upcoming debt payment has been unreached.
Yesterday, eurozone finance ministers were unable to reach any consensus on a deal to help deliver the next aid package to Greece. Jeane-Claude Juncker said “progress has been made” towards bringing down debt, but more technical work is needed. Investors expected a deal yesterday and for now €31.5 billion has not been released.
The FTSE is down 10 points, the DAX is down 25 points and the French CAC is showing an opening of 10 points lower at the time of this report.
Only a few companies are slated to release earnings today. IN England, Halfords (HFD-LN) will release first half earnings and in Germany, Qinetiq (QQ-LN) will release midterm earnings. Paragon (PGN-DE) will release quarterly earnings today as well.
The EUR/USD is still trading below 1.2830 and has key support at 1.2775. Crude oil could not stay above 89.00 and is now testing 89.00 and then 84.00.
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