Intra-Day Market Moving News and Views
22 Dec 2014 02:20GMT
EUR/USD - ........ The single currency remained under pressure in Asian morning today after last Friday's breach of 1.2247 (Dec 08 low) to 1.2220 due to the dovish comments from European Central Bank Vice President Vitor Constancio who said in a magazine interview he expected the euro zone inflation rate to turn negative in the coming months but that if this was just a temporary phenomenon, he did not see a risk of deflation.
Offers are now tipped at 1.2245-50 and more at 1.2270 whilst bids are located at 1.2220 with mixture of bids and stops seen at 1.2200.
On Sunday, Greek PM Antonis Samaras urged lawmakers to elect a new president and offered the prospect of general elections by the end of next year once negotiations with international creditors are complete.
Speaking in an unscheduled television address on Sunday, he said Greece had a duty to finish negotiations with the European Union and the IMF.
The unexpected announcement comes 2 days ahead of the 2nd round of voting in parliament to elect a new president n follows a disappointing result for the goverment't in the 1st round last week when it won less support than expected.
If parliament does not elect a president by the 3rd and final round of voting on Dec. 29, a snap general election would have to be held by early Feb., putting talks on ending Greece's international bailout programme at risk.
This week will see the release of:
New Zealand's Westpac consumer survey, Japan's BoJ Monthly Economic Survey, Germany's Import Price Index, Italy's Trade Balance, Eurozone's U.S.'s Existing Home Sales on Monday.
New Zealand's Trade Balance, Exports and Imports, China's CB Leading Economic Index, France's GDP, Producer Prices, Italy's Retail Sales, U.K.'s BBA Mortgage Approvals, Current Account, GDP, U.S.'s GDP, Personal Consumption, Redbook, Housing Price Index, Reuters/Michigan Consumer Sentiment, New Home Sales, Personal Income, Personal Spending on Tuesday.
Australia's CB Leading Indicator, Switzerland's KOF Leading Indicator; U.S. Initial Jobless Claims on Wednesday.
Japan's BoJ Monetary Policy Meeting Minutes. New Zealand, Australia, China, Eurozone countries and North America are on Christmas Holiday on Thursday.
New Zealand, Australia, Italy, Germany, Canada are on Boxing day holiday on Friday.
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