Forex Market
Behavioral Finance: Daily Forex Outlook : Post-election EU policy response in focus
EUR USD (1.2700) Sunday initially saw the euro dropping below $1.26 when exit polls in Greece showed anti-bailout Left radicals running neck-to-neck with pro-bailout parties.
GBP Analysis
Opened early Europe at $1.5706, stg0.8090, GBP extended gains Friday to $1.5724 with the weekend Greek election result spiking the rate to an extended high of $1.5802 before the early react enthusiasm faded and allowed rate to slip back to $1.5692, settling between $1.5695/1.5715 ahead of Europe.
JPY Analysis
Opened in early Europe around Y79.20 and Y100.63, The boost to risk provided by the Greek election win by pro-bailout parties led to USD/JPY and EUR/JPY pushing higher into Asian Trade Monday.
EUR Analysis
Opened early Europe at $1.2706, EUR/USD closed in NY at $1.2655 with rate marked higher late Sunday as exit polls suggested that the pro-bailout parties in the Greek election had secured enough seats to form a government.
GBPUSD: does final line of resistance hold?
GBPUSD exploded through resistance late last week and tested final resistance areas today in the positive market reaction to the Greek election news. Rest of the week will be pivotal for the outlook.
Technical Analysis
EUR correction running late, NOK weaker… EUR/USD In the midst of the target area… USD/JPY Worth keeping en eye at… EUR/SEK Hovering above support… USD/SEK Firming support… EUR/NOK Another key day reversal… NOK/SEK Back to the drawing board.
GBP/USD Analysis
Extended gains Friday to $1.5724 with the weekend Greek election result spiking the rate to an extended high of $1.5802 before the early react enthusiasm faded and allowed rate to slip back to $1.5692, settling between $1.5695/1.5715 ahead of the european open.
EUR/USD Analysis
Closed in NY at $1.2655 with rate marked higher late Sunday as exit polls suggested that the pro-bailout parties in the Greek election had secured enough seats to form a government.
USD/JPY Analysis
The boost to risk provided by the Greek election win by pro-bailout parties led to USD/JPY and EUR/JPY pushing higher into Asian Trade Monday.
AUD/USD Analysis
AUD/USD opened in Asia Monday around $1.0110 and has been subject to a trading range of $1.0091/$1.0135 so far. A win for the New Democratic/Pasok coalition in Sunday’s Greek elections has seen a cautious risk-on theme develop in Asia,
Greek election: Two scenarios and potential market reaction
The Greek election is upon us this Sunday, with results beginning to roll in late Sunday, but the final outcome will not crystallise until Monday morning. This election will prove an important test of market sentiment and we look at two scenarios for the outcome (the most “positive” and “negative”) and resultant immediate market reactions.
GBP Analysis
Opened early Europe at $1.5545, stg0.8131, GBP closed in NY at $1.5552, off recovery highs of $1.5564 as it took direction from EUR/USD moves, risk gaining a boost on the back of reports suggesting G20 were preparing for coordinated action to provide liquidity if needed after the Greek election Sunday.