28 Apr 2015
Greece hopes support EUR bulls – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team comments on the key developments surrounding the Greece issue and further share the outlook for EUR/USD, maintaining a long position for 1.1000.
Key Quotes
“Greek Prime Minister Alexis Tsipras reshuffled his team handling talks with European and IMF lenders. This move is widely seen as an effort to relegate embattled Finance Minister Yanis Varoufakis to a less active role in negotiations. Varoufakis was sharply criticised by Eurozone finance ministers for both his lecturing style and failure to produce reforms demanded by lenders. Deputy Foreign Minister Euclid Tsakalotos was appointed coordinator of a new team negotiating a reforms deal with lenders.”
“The latest developments suggested Tsipras was ramping up efforts to ease tensions with lenders and strike a deal to unlock aid so Greece can avoid defaulting on payments.”
“The EUR hovered near a three-week peak on Tuesday, boosted by renewed hopes that Greece could secure extra funding. Greece faces a Eurogroup meeting of Eurozone finance ministers on May 11, a day before it must pay EUR 700 million to the IMF.”
“Austrian Finance Minister Hans Joerg Schelling hopes Greece's new negotiating team will make faster progress in debt talks with international creditors and that negotiations do not go back to square one.”
“The European Central Bank Executive Board Member Benoit Coeure said the ECB is making no plans for a Greek exit from the Eurozone.”
“We stay EUR/USD long for 1.1000. Later in the day U.S. consumer confidence and housing data will shed more light on the state of the U.S. economy.”
Key Quotes
“Greek Prime Minister Alexis Tsipras reshuffled his team handling talks with European and IMF lenders. This move is widely seen as an effort to relegate embattled Finance Minister Yanis Varoufakis to a less active role in negotiations. Varoufakis was sharply criticised by Eurozone finance ministers for both his lecturing style and failure to produce reforms demanded by lenders. Deputy Foreign Minister Euclid Tsakalotos was appointed coordinator of a new team negotiating a reforms deal with lenders.”
“The latest developments suggested Tsipras was ramping up efforts to ease tensions with lenders and strike a deal to unlock aid so Greece can avoid defaulting on payments.”
“The EUR hovered near a three-week peak on Tuesday, boosted by renewed hopes that Greece could secure extra funding. Greece faces a Eurogroup meeting of Eurozone finance ministers on May 11, a day before it must pay EUR 700 million to the IMF.”
“Austrian Finance Minister Hans Joerg Schelling hopes Greece's new negotiating team will make faster progress in debt talks with international creditors and that negotiations do not go back to square one.”
“The European Central Bank Executive Board Member Benoit Coeure said the ECB is making no plans for a Greek exit from the Eurozone.”
“We stay EUR/USD long for 1.1000. Later in the day U.S. consumer confidence and housing data will shed more light on the state of the U.S. economy.”