Summary
The five year old saga of Greece, its debt and its place in the European Monetary Union is a moving target. As of this post on Friday morning in New York February 29th, everything is up in the air. The Eurogroup ministers are meeting in Brussels. Yannis Varoufakis the Greek Finance Minister said he hoped a deal would be reached today on Greece’s request for a new six month loan agreement. Wolfgang Schaeuble German Finance Minister had called the Greek idea a “Trojan Horse”.” Angela Merkel the German Chancellor and French President Francois Hollande said “Greece must remain in the euro area”. We will examine the situation as it presents itself at the time of the webinar and try to separate the official agreements (if any) from the likely economic and market impact. It will necessarily be speculation of a high order. Join us for a session of fact, theorizing and a little European culture.Latest Live Videos
Editors’ Picks
EUR/USD stays below 1.0800 after upbeat US data
EUR/USD stays under bearish pressure and trades slightly below 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold clings to strong daily gains above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.