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21 Apr 2015
Volatility staging a come back through the greenback - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that it was a volatile Tuesday, with the dollar starting the day higher, and ending it generally lower across the board.
Key Quotes:
"The early boost was triggered by headlines suggesting the ECB was planning to tighten Greek´s use of the Emergency Liquidity Assistance (ELA), ahead of the maturity of €1B due to the IMF in May. But as the day went by, news coming from that front showed that the country will most likely be able to face its payments during May, helping the EUR/USD pair recover from a daily low of 1.0659 to a high around 1.0780."
"The Greek drama extended during late US session, as Greece PM Varoufakis said that the country will reach a deal with its creditors, although the market did not react to this last. Earlier in the day, the German ZEW survey for April showed that the local economic sentiment fell for the first time since October 2014, down to 53.3 from previous 54.8, while the European economic sentiment improved above expected in the same month."
Key Quotes:
"The early boost was triggered by headlines suggesting the ECB was planning to tighten Greek´s use of the Emergency Liquidity Assistance (ELA), ahead of the maturity of €1B due to the IMF in May. But as the day went by, news coming from that front showed that the country will most likely be able to face its payments during May, helping the EUR/USD pair recover from a daily low of 1.0659 to a high around 1.0780."
"The Greek drama extended during late US session, as Greece PM Varoufakis said that the country will reach a deal with its creditors, although the market did not react to this last. Earlier in the day, the German ZEW survey for April showed that the local economic sentiment fell for the first time since October 2014, down to 53.3 from previous 54.8, while the European economic sentiment improved above expected in the same month."