29 Dec 2014

Greek Presidential Elections in Focus

A light global macroeconomic calendar today, following last week’s festive holiday, is unlikely to bring any major volatility in currency markets. However, Sterling investors will remain focused on the final round of Greek Presidential elections as any unfavourable outcome for the current ruling party might heighten concerns among market participants. Going forward, traders will keep tabs on Friday’s manufacturing PMI report in the UK for further direction to risk appetite. Across the Atlantic, after last week’s final GDP numbers indicated an upward revision to the nation’s economic growth for the third quarter due to strong consumer spending levels, investors keenly await tomorrow’s consumer confidence report to gain a better insight into the domestic spending trend for the last quarter of 2014.