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EU Morning Report - Greek election results positive

Autore: Written by Easy-Forex for

The euro (EUR) commenced the week with noticeable buying pressure following the Greek election results. The pro-bailout party New Democracy won the Greek election with the anti-bailout SYRIZA coming second. The number of parliament seats that New Democracy and PASOK will command is enough for them to form a coalition government. Investors should be cautious as any complication in these negotiations would cause risk appetite to suddenly vanish. Spain's Prime Minister Rajoy welcomed these results as positive for Europe. He also said that euzorone needs more integration and that the nation’s banks, businesses and regions are facing tough challenges in financing themselves.

The US dollar (USD) appears weak as markets open with heightened risk appetite and a relatively lackluster financial calendar. Nevertheless, the G20 meeting will take place today in Los Cabos, Mexico and market participants should expect the market to react on statements from the world’s strongest economies leaders. It will be interesting to see if a coordinated policy plan to save the world economy will be discussed.

Oil opened at 83.29 dollars a barrel from 83.63. Gold (XAU) opened at 1627.10 US dollars an ounce from 1626.85. Against the euro, gold rose to 1273.05 from 1265.68 an ounce. Silver (XAG) opened at 28.8034 dollars an ounce from 28.6650. Stay in tune throughout the day with foreign exchange bulltes!

. Pivot Preference1 Sentiment2
. EURUSD 1.2660 LONG @ 1.2660 43% of deals buy EUR
. USDJPY 78.90 LONG @ 78.90 37% of deals buy USD
. GBPUSD 1.5600 LONG @ 1.5620 51% of deals buy GBP
. AUDUSD 1.0030 LONG @ 1.0030 30% of deals buy AUD
. GOLD 1612 LONG @ 1612 56% of deals buy GOLD
. OIL 83.50 LONG @ 83.50 83% of deals buy OIL
1 data generated by Trading Central™, 2 data obtained from easy-forex Inside Viewer™ .
Currency Time (GMT) Event Forecast
. USD 14:00 NAHD Housing Market Index for June
. - - - -
. - - - -
Movers Shakers
NZDUSD The New Zealand dollar (NZD) produced a spectacular rebound against the US dollar (USD) over the past week, after it tested the 0.7450 support area twice over the past weeks. The pair recorded a low at 0.7671 on Monday but managed to rise for the rest of the week closing at 0.7827. This was 156 pips, a weekly rise - in percentage terms - of 2.03%. It will be interesting to see whether the pair will continue this rebound and achieve higher highs.
. Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. In no way is it a recommendation by easy-forex® for you to engage in any trade. The information provided is based on data generated by third party investment research providers. easy-forex® does not assume any liability as to the accuracy of such information. This information shall be used for reference only and it is not binding on easy-forex®. This is not an advertisement or a recommendation in engaging / binding you in any forex transactions.



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