20 Feb 2015
Greek headlines to dominate Friday's trade - Westpac
FXStreet (Bali) - Today's FX market focus will again be on the negotations between Greece and the EU to potentially reach a new funding compromise, with market response likely to be in the NY afternoon given the time of the FinMin meeting in Brussels - 3pm local time -, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"There is no data release of note in the Australia/Asia session, with much of Asia ex-Japan still out for the lunar new year holiday (India, Thailand, Indonesia and the Philippines will be open)."
"There will be another Eurogroup meeting at 3pm Brussels, as finance ministers discuss the formal request from Greece for an extension of the Master Financial Assistance Facility Agreement. Hence market response is likely to be in the NY afternoon. Even if this meeting does not produce agreement, they may well meet again next week."
"UK Jan retail sales ex auto is forecast to print at -0.3% m/m, which would leave annual growth high at 5.9%. Dec held after very strong Oct and Nov numbers. Falling oil prices should be supportive of sales. Otherwise the calendar is very quiet, featuring flash Feb readings for Markit PMIs from Japan, the Eurozone and US."
Key Quotes
"There is no data release of note in the Australia/Asia session, with much of Asia ex-Japan still out for the lunar new year holiday (India, Thailand, Indonesia and the Philippines will be open)."
"There will be another Eurogroup meeting at 3pm Brussels, as finance ministers discuss the formal request from Greece for an extension of the Master Financial Assistance Facility Agreement. Hence market response is likely to be in the NY afternoon. Even if this meeting does not produce agreement, they may well meet again next week."
"UK Jan retail sales ex auto is forecast to print at -0.3% m/m, which would leave annual growth high at 5.9%. Dec held after very strong Oct and Nov numbers. Falling oil prices should be supportive of sales. Otherwise the calendar is very quiet, featuring flash Feb readings for Markit PMIs from Japan, the Eurozone and US."