|02-12-2015, 02:03 PM||#1|
Euro against U.S. dollar: Random movements ahead of Greece meeting
Markets waited yesterday the outcome of the euro zone finance minister meeting on the Greek issue, but they only got a new deadline after the president of the Eurogroup said that talks would continue until negotiators reach an agreement after the meeting on Monday.
Leaks that came out suggest that Greece still refuses to move forward in the European funding program, which was agreed upon before, but the presence of the President of the International Monetary Fund Christine Lagarde at this meeting gives a new dimension and opens the door for bets on the possibility of reaching an agreement, or extend the period of negotiations at least hoping to spare Greece bankruptcy or exit from the euro zone.
The public debt in Greece amounted to 320 billion euro, and by 175% of the Gross Domestic Product.
The EUR/USD pair is still trading horizontally due to the lack of a technical support at 1.1270 and a strong resistance at 1.1350. The pair’s trend remains subjected to updates on the ongoing Greece issue.
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