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16 Feb 2015
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Euro falls as Greek debt talks collapse

United States Dollar: It was a relatively quiet start to the trading week yesterday with America enjoying a day off work due to the Presidents Day national holiday. Cable started the London session around 1.5430 but fell throughout the day as ongoing worries about Greece saw the dollar bought. GBP/USD currently trades 1.5350. Today sees the start of a data-heavy week from the UK with CPI released at 9:30am. A fall from 0.5% to 0.3% is expected with further a fall into negative territory on the cards as we head towards Spring.

We expect a range today in the GBP/USD rate of 1.53 to 1.5430

Euro: Greece continues to dominate the news with reports this morning saying talks have broken down in Brussels between the new Greek government and its international creditors. It appears the latest offer made by Eurogroup members was refused by Greek Finance Minister, Yanis Varoufakis due to it being tied to ongoing austerity. With the current bailout due to expire at the end of the month time is running out for a new deal to be reached and Greece to avoid a possible default. EUR/USD has dropped on the back of the impasse and currently trades at 1.1350 after starting the week around 1.1410. GBP/EUR got close to the multi-year high of 1.3566 overnight and currently trades at 1.3524. This morning sees the normally closely followed ZEW Economic Sentiment release from Germany however Greece will likely overshadow this.

We expect a range today in the GBP/EUR rate of 1.3460 to 1.36

Aussie and Kiwi Dollars: Overnight saw the release of the minutes from the latest RBA meeting held on 3rd February. The minutes predicted that unemployment was set to continue to rise and growth would remain below trend for the remainder of the year before a recovery started in 2016. Holders of the Aussie will have noted policy makers seeing it still being over-valued even after its recent drop against the greenback. New Zealand saw stronger than expected Retail Sales figures with quarterly growth for the overall reading of 1.7% and the core reading showing a 1.5% increase. AUD/USD trades at .7790 with NZD/USD at .7508. GBP/AUD is at 1.97 with GBP/NZD at 2.0435.

We expect a range today in the GBP/AUD rate of 1.96 to 1.9805

We expect a range today in the GBP/NZD rate of 2.03 to 2.0580

Data Releases

AUD: No data

EUR: German ZEW Economic Sentiment

GBP: CPI y/y

NZD: GDT Price Index

USD: NAHB Housing Market Index

If you want instant updates on movements in the FX market and fast access to the UKForex daily commentary, follow us on twitter at http://twitter.com/ukforex or @ukforex

16 Feb 2015
Share

Euro falls as Greek debt talks collapse

United States Dollar: It was a relatively quiet start to the trading week yesterday with America enjoying a day off work due to the Presidents Day national holiday. Cable started the London session around 1.5430 but fell throughout the day as ongoing worries about Greece saw the dollar bought. GBP/USD currently trades 1.5350. Today sees the start of a data-heavy week from the UK with CPI released at 9:30am. A fall from 0.5% to 0.3% is expected with further a fall into negative territory on the cards as we head towards Spring.

We expect a range today in the GBP/USD rate of 1.53 to 1.5430

Euro: Greece continues to dominate the news with reports this morning saying talks have broken down in Brussels between the new Greek government and its international creditors. It appears the latest offer made by Eurogroup members was refused by Greek Finance Minister, Yanis Varoufakis due to it being tied to ongoing austerity. With the current bailout due to expire at the end of the month time is running out for a new deal to be reached and Greece to avoid a possible default. EUR/USD has dropped on the back of the impasse and currently trades at 1.1350 after starting the week around 1.1410. GBP/EUR got close to the multi-year high of 1.3566 overnight and currently trades at 1.3524. This morning sees the normally closely followed ZEW Economic Sentiment release from Germany however Greece will likely overshadow this.

We expect a range today in the GBP/EUR rate of 1.3460 to 1.36

Aussie and Kiwi Dollars: Overnight saw the release of the minutes from the latest RBA meeting held on 3rd February. The minutes predicted that unemployment was set to continue to rise and growth would remain below trend for the remainder of the year before a recovery started in 2016. Holders of the Aussie will have noted policy makers seeing it still being over-valued even after its recent drop against the greenback. New Zealand saw stronger than expected Retail Sales figures with quarterly growth for the overall reading of 1.7% and the core reading showing a 1.5% increase. AUD/USD trades at .7790 with NZD/USD at .7508. GBP/AUD is at 1.97 with GBP/NZD at 2.0435.

We expect a range today in the GBP/AUD rate of 1.96 to 1.9805

We expect a range today in the GBP/NZD rate of 2.03 to 2.0580

Data Releases

AUD: No data

EUR: German ZEW Economic Sentiment

GBP: CPI y/y

NZD: GDT Price Index

USD: NAHB Housing Market Index

If you want instant updates on movements in the FX market and fast access to the UKForex daily commentary, follow us on twitter at http://twitter.com/ukforex or @ukforex

16 Feb 2015
Share

Euro falls as Greek debt talks collapse

United States Dollar: It was a relatively quiet start to the trading week yesterday with America enjoying a day off work due to the Presidents Day national holiday. Cable started the London session around 1.5430 but fell throughout the day as ongoing worries about Greece saw the dollar bought. GBP/USD currently trades 1.5350. Today sees the start of a data-heavy week from the UK with CPI released at 9:30am. A fall from 0.5% to 0.3% is expected with further a fall into negative territory on the cards as we head towards Spring.

We expect a range today in the GBP/USD rate of 1.53 to 1.5430

Euro: Greece continues to dominate the news with reports this morning saying talks have broken down in Brussels between the new Greek government and its international creditors. It appears the latest offer made by Eurogroup members was refused by Greek Finance Minister, Yanis Varoufakis due to it being tied to ongoing austerity. With the current bailout due to expire at the end of the month time is running out for a new deal to be reached and Greece to avoid a possible default. EUR/USD has dropped on the back of the impasse and currently trades at 1.1350 after starting the week around 1.1410. GBP/EUR got close to the multi-year high of 1.3566 overnight and currently trades at 1.3524. This morning sees the normally closely followed ZEW Economic Sentiment release from Germany however Greece will likely overshadow this.

We expect a range today in the GBP/EUR rate of 1.3460 to 1.36

Aussie and Kiwi Dollars: Overnight saw the release of the minutes from the latest RBA meeting held on 3rd February. The minutes predicted that unemployment was set to continue to rise and growth would remain below trend for the remainder of the year before a recovery started in 2016. Holders of the Aussie will have noted policy makers seeing it still being over-valued even after its recent drop against the greenback. New Zealand saw stronger than expected Retail Sales figures with quarterly growth for the overall reading of 1.7% and the core reading showing a 1.5% increase. AUD/USD trades at .7790 with NZD/USD at .7508. GBP/AUD is at 1.97 with GBP/NZD at 2.0435.

We expect a range today in the GBP/AUD rate of 1.96 to 1.9805

We expect a range today in the GBP/NZD rate of 2.03 to 2.0580

Data Releases

AUD: No data

EUR: German ZEW Economic Sentiment

GBP: CPI y/y

NZD: GDT Price Index

USD: NAHB Housing Market Index

If you want instant updates on movements in the FX market and fast access to the UKForex daily commentary, follow us on twitter at http://twitter.com/ukforex or @ukforex

16 Feb 2015
Share

Euro falls as Greek debt talks collapse

United States Dollar: It was a relatively quiet start to the trading week yesterday with America enjoying a day off work due to the Presidents Day national holiday. Cable started the London session around 1.5430 but fell throughout the day as ongoing worries about Greece saw the dollar bought. GBP/USD currently trades 1.5350. Today sees the start of a data-heavy week from the UK with CPI released at 9:30am. A fall from 0.5% to 0.3% is expected with further a fall into negative territory on the cards as we head towards Spring.

We expect a range today in the GBP/USD rate of 1.53 to 1.5430

Euro: Greece continues to dominate the news with reports this morning saying talks have broken down in Brussels between the new Greek government and its international creditors. It appears the latest offer made by Eurogroup members was refused by Greek Finance Minister, Yanis Varoufakis due to it being tied to ongoing austerity. With the current bailout due to expire at the end of the month time is running out for a new deal to be reached and Greece to avoid a possible default. EUR/USD has dropped on the back of the impasse and currently trades at 1.1350 after starting the week around 1.1410. GBP/EUR got close to the multi-year high of 1.3566 overnight and currently trades at 1.3524. This morning sees the normally closely followed ZEW Economic Sentiment release from Germany however Greece will likely overshadow this.

We expect a range today in the GBP/EUR rate of 1.3460 to 1.36

Aussie and Kiwi Dollars: Overnight saw the release of the minutes from the latest RBA meeting held on 3rd February. The minutes predicted that unemployment was set to continue to rise and growth would remain below trend for the remainder of the year before a recovery started in 2016. Holders of the Aussie will have noted policy makers seeing it still being over-valued even after its recent drop against the greenback. New Zealand saw stronger than expected Retail Sales figures with quarterly growth for the overall reading of 1.7% and the core reading showing a 1.5% increase. AUD/USD trades at .7790 with NZD/USD at .7508. GBP/AUD is at 1.97 with GBP/NZD at 2.0435.

We expect a range today in the GBP/AUD rate of 1.96 to 1.9805

We expect a range today in the GBP/NZD rate of 2.03 to 2.0580

Data Releases

AUD: No data

EUR: German ZEW Economic Sentiment

GBP: CPI y/y

NZD: GDT Price Index

USD: NAHB Housing Market Index

If you want instant updates on movements in the FX market and fast access to the UKForex daily commentary, follow us on twitter at http://twitter.com/ukforex or @ukforex