16 Feb 2015
EUR/AUD: lower on non-cooperation in Brussels
FXStreet (Guatemala) - EUR/AUD is currently making a minor recovery from the lows to trade 20 pips up at 1.4602 at time of writing from highs of 1.4688.
EUR/AUD has been on the offer post the disappointments from Brussels with the meeting ending without conclusions yet again between Eurogroup, EU ministers and Greek minsters. No progress was made and we are in limbo with Yanis Varoufakis not agreeing to what the firm Germans and Eurogroup have put forward as a solution to a deal. If a request for a bailout extension comes in, then Dijsselbloem said they could have another meeting on Friday. In today’s meeting, Dijsselbloem explained that the general feeling is that the best thing would be for the Greek authorities to seek an extension to its programme,
"We simply need more time to examine Greece’s proposals, so an extension would give us the ability to do that work."
EUR/USD has dropped down to test 1.1320 and has completed a cent to the downside and the crosses have followed, with EUR/AUD now over 100 pips marking a low of 1.4580. We now look ahead to the RBA minutes today that may or may not give us something more than what we already got from Stevens last week.
EUR/AUD has been on the offer post the disappointments from Brussels with the meeting ending without conclusions yet again between Eurogroup, EU ministers and Greek minsters. No progress was made and we are in limbo with Yanis Varoufakis not agreeing to what the firm Germans and Eurogroup have put forward as a solution to a deal. If a request for a bailout extension comes in, then Dijsselbloem said they could have another meeting on Friday. In today’s meeting, Dijsselbloem explained that the general feeling is that the best thing would be for the Greek authorities to seek an extension to its programme,
"We simply need more time to examine Greece’s proposals, so an extension would give us the ability to do that work."
EUR/USD has dropped down to test 1.1320 and has completed a cent to the downside and the crosses have followed, with EUR/AUD now over 100 pips marking a low of 1.4580. We now look ahead to the RBA minutes today that may or may not give us something more than what we already got from Stevens last week.