FXStreet (Barcelona) - The FXMarketAlerts Team, note that both political and economic reasoning in Greece call for action, and further share the outlook for EUR/USD and EUR/NZD.
Key Quotes
“Kathimerini: Following the informal Eurogroup meeting in Riga, Latvia, a consensus has emerged that the positions of the Greek government and the official lenders are not close enough to lead to a deal anytime soon.”
“In our view, domestic politics plays a major role in the government's decision making. Its popularity ratings may be high now but have started to slip. So, both economic and political reasoning call for action.”
“On FX, ongoing focus on Greece, as talks drag on. Some focus above on the government tough stance in the negotiations. Possibility of calling new elections, if needed.”
“EUR/USD at 1.0865-66, offers 1.0900-10, bids at 1.0820-30/1.0800.”
“EUR/NZD at 1.4235-40, off the 2-week highs of 1.4395 seen on Friday, highest since 8 April 1.4442. Support now at 1.4200, resistance at 1.4300 again.”