13 Feb 2015
EUR/AUD heavy ahead of key week in EZ
FXStreet (Guatemala) - EUR/AUD is currently trading at 1.4675 with a high of 1.4783 and a low of 1.4660.
Post a non event in RBA's Stevens talking that same tune overnight, with much of what was said priced in already, EUR/AUD is heavy after a series of failed attempts at the upside and trades with a bearish bias leading into the week ahead. Besides the ECB minutes, markets will be keen around Mondays Eurogroup meeting.
Analysts at TD Securities explained that the negotiations continue and explained that this will continue to be a game of chicken because that is only reason to guarantee a need to compromise. "And after some overreacted to the disappointment from this week’s Eurogroup, the Leaders’ Summit provided more optimism, with “technical” work with the “institutions” to run through the weekend now into Monday’s Eurogroup. It’s still more likely we have to wait until late Monday for anything official but details could start to leak out over the weekend."
Post a non event in RBA's Stevens talking that same tune overnight, with much of what was said priced in already, EUR/AUD is heavy after a series of failed attempts at the upside and trades with a bearish bias leading into the week ahead. Besides the ECB minutes, markets will be keen around Mondays Eurogroup meeting.
Analysts at TD Securities explained that the negotiations continue and explained that this will continue to be a game of chicken because that is only reason to guarantee a need to compromise. "And after some overreacted to the disappointment from this week’s Eurogroup, the Leaders’ Summit provided more optimism, with “technical” work with the “institutions” to run through the weekend now into Monday’s Eurogroup. It’s still more likely we have to wait until late Monday for anything official but details could start to leak out over the weekend."