20 Feb 2015
EUR/AUD: Swallowed up by the bears
FXStreet (Guatemala) - EUR/AUD is currently trading 1.4580 with a high of 1.4594 and a low of 1.4569.
EUR/AUD has been swallowed up by the bears overnight. In Asia the cross is consolidating the move from above 1.4720 down to the region of 1.4570. The market got out of the euro as the Germans advised that there should be no extension to the bail out for Greece given their proposals were not containing the details that had been discussed in this past Monday's meeting in Brussels between the EU ministers and the Eurogroup.
Later on, in European trade, we have yet another Eurogroup meeting at 3pm Brussels, and here is when the finance ministers are going to receive and discuss a formal request from Greece for the extension. The risk for tomorrow essentially is this ahead of next week's risk in the testimony from Yellen. This will be taking the spotlight early on in the week on Tuesday's US session where cross flows in the Aussie and euro should impact the cross.
EUR/AUD has been swallowed up by the bears overnight. In Asia the cross is consolidating the move from above 1.4720 down to the region of 1.4570. The market got out of the euro as the Germans advised that there should be no extension to the bail out for Greece given their proposals were not containing the details that had been discussed in this past Monday's meeting in Brussels between the EU ministers and the Eurogroup.
Later on, in European trade, we have yet another Eurogroup meeting at 3pm Brussels, and here is when the finance ministers are going to receive and discuss a formal request from Greece for the extension. The risk for tomorrow essentially is this ahead of next week's risk in the testimony from Yellen. This will be taking the spotlight early on in the week on Tuesday's US session where cross flows in the Aussie and euro should impact the cross.