Intra-Day Market Moving News and Views EUR/USD
29 Dec 2014 01:08GMT
EUR/USD - ....... Euro came under initial selling pressure ahead of Asian open as short-term specs sold the single currency on political woes in Greece following w/end comments by Greek PM Samaras and German FinMin Schaeuble.
Reuters reported Greek PM Antonis Samaras faces a vote in parliament later toay that will decide whether the country goes to snap elections that could bring the leftwing Syriza party to power n derail an international bailout. Voting is due to start at midday (10:00 GMT), with the result likely around an hour later.
Reuters also reported Samaras warned lawmakers on Saturday against the snap election that will be called if he loses a key presidential vote in parliament on Monday, but said he was confident of winning if Greeks did go to the polls.
Speaking before Monday's decisive round in the election of a successor to head of state Karolos Papoulias, Samaras said a general election, which must be held if a new president cannot be appointed, was against the national interest.
"The Greek people do not want early elections," he told state television in an interview. "I have done and I am doing everything to ensure a president is elected and snap elections are averted," Samaras said.
His comment came on the same day German FinMin Wolfgang Schaeuble warned that any Greek gov't would have to respect commitments already made by Athens.
More w/end news worth noting which also contributed to euro's initial weakness ahead of Asian open Monday. Reuters reported German FinMin Wolfgang Schaeuble expressed his reservations against the ECB launching a bond buying stimulus program and praised Bundesbank president Jens Weidmann's arguments against such moves.
In an interview with Bild newspaper on Sat, Schaeuble repeated his view that structural reforms are needed in some of the struggling euro zone countries.
"The ECB can make its decisions independently," Schaeuble said. "But cheap money should not be allowed to dent the reform zeal in some countries. There is no alternative to structural reforms - if things are going to improve again."
Schaeuble, when asked whether Weidmann has enough clout in the ECB, said: "Germany's voice has weight...But even if we're the strongest economy, Germany can't always get its way. At the end of the day a compromise is what's needed. But the arguments from Jens Weidmann are strong and are listened to in the ECB."
He added Chancellor Angela Merkel and he have an open dialogue with Draghi. "The Chancellor n me, the finance minister, are constantly having intensive discussions with Mario Draghi."
29 Dec 2014 01:08GMT
EUR/USD - ....... Euro came under initial selling pressure ahead of Asian open as short-term specs sold the single currency on political woes in Greece following w/end comments by Greek PM Samaras and German FinMin Schaeuble.
Reuters reported Greek PM Antonis Samaras faces a vote in parliament later toay that will decide whether the country goes to snap elections that could bring the leftwing Syriza party to power n derail an international bailout. Voting is due to start at midday (10:00 GMT), with the result likely around an hour later.
Reuters also reported Samaras warned lawmakers on Saturday against the snap election that will be called if he loses a key presidential vote in parliament on Monday, but said he was confident of winning if Greeks did go to the polls.
Speaking before Monday's decisive round in the election of a successor to head of state Karolos Papoulias, Samaras said a general election, which must be held if a new president cannot be appointed, was against the national interest.
"The Greek people do not want early elections," he told state television in an interview. "I have done and I am doing everything to ensure a president is elected and snap elections are averted," Samaras said.
His comment came on the same day German FinMin Wolfgang Schaeuble warned that any Greek gov't would have to respect commitments already made by Athens.
More w/end news worth noting which also contributed to euro's initial weakness ahead of Asian open Monday. Reuters reported German FinMin Wolfgang Schaeuble expressed his reservations against the ECB launching a bond buying stimulus program and praised Bundesbank president Jens Weidmann's arguments against such moves.
In an interview with Bild newspaper on Sat, Schaeuble repeated his view that structural reforms are needed in some of the struggling euro zone countries.
"The ECB can make its decisions independently," Schaeuble said. "But cheap money should not be allowed to dent the reform zeal in some countries. There is no alternative to structural reforms - if things are going to improve again."
Schaeuble, when asked whether Weidmann has enough clout in the ECB, said: "Germany's voice has weight...But even if we're the strongest economy, Germany can't always get its way. At the end of the day a compromise is what's needed. But the arguments from Jens Weidmann are strong and are listened to in the ECB."
He added Chancellor Angela Merkel and he have an open dialogue with Draghi. "The Chancellor n me, the finance minister, are constantly having intensive discussions with Mario Draghi."
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