The euphoria about the agreement with Greece is ended | IFCM
IFC Markets Online CFD Broker

The euphoria about the agreement with Greece is ended - 22.2.2012

US dollar A positive decision on Greece did not not help currencies in opposition to the dollar. The first impulse of the U.S. currency weakening  was stopped and stabilized at 79. It should be noted, that the day after the holiday was characterized by low liquidity in the absence of significant economic statistics. In general, the dollar looks very confident, firstly because of the macroeconomic stabilization, advantageous against other regions and because of protective currency status. Smooth increase in the American currency is expected in a mid-term perspective. Euro The euphoria about the agreement with Greece ended before it began. Yesterday, the euro closed at a small minus, despite the rapid growth after the announcement of the successful completion of negotiations in Brussels. Yesterday, the euro was closed at a small minus value, despite the rapid growth after the announcement of the successful completion of negotiations in Brussels. All the good news, in particular, the agreement between Greece, private lenders and the EU have already been taken into account by the market, so now the euro is having difficultes with the upward trend progress. The rogramme of assistance to Greece for some time can protect the country from defaulting for some time , however, the current state of the economy and forecasts for the near future do not inspire optimism and put doubt on the ability of the countriy to keep promises of cost cutout. The program must be approved by the parliaments of the three countries: Germany, Holland and Finland. However, the German Ministry of Finance , Wolfgang Schaeuble, who has recently called Greece, the drain on resources, is sure that his country will have no complications occurred. Yen The dollar rose on against the yen for the fourth time in a row on Tuesday and that was the longest uptrend over the past two months. Investors who were looking for some shelter in the Japanese currency, buy the risky assets now. Note that according to the JPMorgan G7 Volatility Index, the implied volatility of theG7 currencies has gotten down to the level of 9.97%, which makes buying higher-yielding currencies more attractive.
IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

See Also

image
Follow the Market with Our Live Tools and Calendars
Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger