EUR/USD: First inter-bank quotes below 1.10


FXStreet (Bali) - The first inter-bank quotes in EUR/USD ahead of the Sydney market open show the pair trading below 1.10, presently stable at 1.0971/1.0979 as the victory of the 'No' vote in the Greek referendum appears a done deal.

'No' vote means Grexit?

Ani Salama, US manager at FXStreet, wrote in a special report: "A ‘No’ vote would significantly increase the odds of a Grexit, but not imminently. The consequences are difficult to be measured and much will depend on how the Greek government seizes this outcome."

EUR/USD outlook ahead of Asia open

A notorious risk-off sentiment is likely to persist at the open of Asian trade should the 'No' vote win as its expected, with uncharted/unknown territory in the Greek drama (huge uncertainty ahead) to keep the Euro under pressure. There remains key questions to answer now, including whether or not a continuation of bailout talks will resume anytime soon, Greek banks closure and a possible Greek default on the ECB on July 20th if no compromise. The pair is probably going to accelerate its decline towards June 29 low at 1.0950 (also weekly S1) ahead of 1.0920 to 1.0880, early June levels that should act as reference for support/take profit.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD jumps back above 0.6950 as S&P 500 futures test 3,200

Following a bearish opening gap, AUD/USD has recovered ground and trades above 0.6950, tracking the bounce in the S&P 500 futures. The bulls shrug off US-China tensions and the worsening coronavirus situation in the US and Australia. 

AUD/USD News

USD/JPY bears holding their positions below 107 level

Yen remains a safe haven currency of choice as trade wars and the coronavirus play havoc risk apatite. Investors pin hopes on Gilead Sciences reporting that its antiviral drug Remdesivir recorded positive results in clinical trials.

USD/JPY News

Gold: Pierces $1,800 inside short-term bullish flag

Gold prices extend recoveries from $1,798.14, defies two-day losing streak. A seven-day-old bullish technical pattern, sustained trading beyond immediate support favor the buyers. 200-HMA offers additional downside support, bulls will cheer break of $1,811.60.

Gold News

WTI: Depressed above $40 amid output cut talks

WTI defies the late-Friday recovery moves while slipping from $40.80. Saudi Arabia pushes for two million barrels a day output cut, IEA improves on oil demand forecast. Risk-tone remains mildly positive amid virus woes, US-China tension.

Oil News

S&P 500: Bank's earnings in focus, COVID-19 induced insolvency fears simmer away

The S&P 500 will be a key theme on Q2 earnings this week, traders watching the banks for guidance. Wall Street stocks remain in bullish territory, but the S&P 500 is on thin-ice while below the June highs. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures