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Market Is Steadying ButTitle:
Euro at 2-month high as Greek hopes fuel short squeeze
(Reuters) - The euro rose to a two-month high versus the dollar on Wednesday on optimism Greek leaders are nearing a deal to secure a second bailout and avoid a messy default, though analysts were skeptical of fresh gains with the deal becoming priced in.
Following a string of delays in negotiations, Greek leaders will meet again on Wednesday in a bid to agreed yet deeper austerity in return for another international rescue package.
A sharp selloff in the single currency was seen as unlikely ...
Title:
Euro falls from 6-week high on Greek caution
(Reuters) - The euro fell from six-week highs against the dollar on Monday as a rally driven by short-covering ran out of steam, with investors waiting for a debt swap deal between Greece and its private creditors as well as a summit of EU leaders.
Athens is unlikely to reach an agreement to restructure private sector holdings of its debt in time for the summit, at which euro zone leaders are expected to sign off on a permanent rescue fund for the euro zone and agree on inserting a balanced ...
Title:
Euro slips from 6-week high, EU summit eyed
(Reuters) - The euro retreated from six-week highs against the dollar on Monday as a rally driven by short-covering ran out of steam, with investors awaiting news that Greece and its private creditors are closer to a debt swap deal ahead of an EU summit.
An agreement to restructure private holdings of Greek debt is unlikely to be reached in time for the summit, at which euro zone leaders are expected to sign off on a permanent rescue fund for the euro zone and agree on inserting a balanced ...
Title:
Euro gains evaporate after Greek setback
(Reuters) - The euro struggled to stay above the $1.300 level against the dollar in Asia on Tuesday after slithering from a three-week peak on news that euro zone finance ministers rejected an offer by private creditors to restructure Greek debt, keeping alive default fears.
The euro slipped as low as $1.2987 before steadying at $1.3005. On Monday, it had jumped more than 1 percent to a high of $1.3053 on the EBS trading platform as hopes of an eventual Greek deal drove a wave of short-covering. ...
Title:
Recuperating euro stung by Greek uncertainty
(Reuters) - The euro retreated from a three-week peak against the dollar in Asia on Tuesday and looked vulnerable to extending its pullback after talks to reduce Greece's debt burden suffered a setback.
The single currency shed some 30 pips on news that euro zone finance ministers had sent back for further negotiations a debt restructuring offer from private Greek bondholders to achieve a lower average coupon on new Greek bonds.
The euro dipped to $1.3005 from $1.3034 late in New York, before ...
Title:
Dukascopy Morning Forex Overview : 20/01/2012
Fundamental Analysis
EUR
"Spain is showing the market there’s ample demand for their paper"
- Padhraic Garvey, head of developed markets debt strategy at ING Bank NV
France and Spain, both downgraded by Standard & Poor’s last week, paid lower borrowing costs on Thursday, compared to their previous auctions, a sign the ECB’s refinancing operation alleviated market concern over the Europe’s debt crisis.
USD
"You’ve got a gradual improvement in the labor market"
- Brian Jones, a senior U.S. ...
Title:
Euro, stocks down as debt jitters trump U.S. data
(Reuters) - The euro sank against the dollar and the yen on Monday and Asian stocks fell as renewed worries about the fallout from the European sovereign debt crisis overshadowed signs of vigor in the U.S. economy.
The rising dollar dragged on commodity prices, with oil, copper and gold all falling, while mixed signals on the global economy kept Asian credit markets subdued.
Data on Friday showed that while U.S. employment growth accelerated last month, euro zone retail sales fell and economic ...
Title:
Euro stung by thin year-end trade; downside beckons
The euro nursed heavy losses in Asia on Thursday, having suffered a sudden drop overnight as moves were amplified in poor year-end liquidity after stop-losses were triggered.
The common currency fell nearly 1 percent to a one-year low at $1.2910, before recovering some ground to last stand at $1.2936. Selling accelerated after it broke trendline support drawn from December 14 at around $1.3050, traders said.
Against the yen, the euro skidded to a 10-year trough around 100.70, before steadying ...
Title:
Euro slide pauses but debt jitters persist
(Reuters) - The euro was poised to end its worst week in over a month on an upbeat note, taking heart from light short-covering in most riskier assets on Friday on the back of a well-bid Spanish bond sale and solid U.S. economic data.
But the mood remained brittle with possible cuts in the credit ratings of euro zone countries looming after a key EU summit last week offered little respite to turbulent euro zone bond markets and cash-starved European banks.
This yanked the legs from under the ...
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