24 Jun 2015
Greenback dragged on stocks subsequent of Greece - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet notes that the common currency recovered some ground against the American dollar, following the sharp decline seen on Tuesday, but the pair is barely closing the day above the 1.1200 level.
Key Quotes:
"The market was waiting for the release of the US first quarter GDP final revision, when Greek PM Tsipras dropped a bombshell: its creditors rejected the latest proposal, submitted over the weekend."
"The EUR barely reacted to the news, but stocks in Europe slumped into the red, where they closed, weighing in Wall Street, also strongly down on the day."
"The US GDP revision had little to offer, as it came out as expected at -0.2%, confirming the US economy contracted at the beginning of the year."
"The dollar traded generally higher after the release, as the upward review was attributed to an increase in consumer spending, but the strong slide in stocks dragged the greenback lower before the end of the day."
Key Quotes:
"The market was waiting for the release of the US first quarter GDP final revision, when Greek PM Tsipras dropped a bombshell: its creditors rejected the latest proposal, submitted over the weekend."
"The EUR barely reacted to the news, but stocks in Europe slumped into the red, where they closed, weighing in Wall Street, also strongly down on the day."
"The US GDP revision had little to offer, as it came out as expected at -0.2%, confirming the US economy contracted at the beginning of the year."
"The dollar traded generally higher after the release, as the upward review was attributed to an increase in consumer spending, but the strong slide in stocks dragged the greenback lower before the end of the day."