The EU agreement on Greece failed to convince markets yesterday. European equities fell almost from the off however US and overnight indices painted a slightly better picture. Hence Europe should open on the same footing. Commodity currencies have hit a ceiling with AUD and NZD in particular meeting resistances.
In the UK, the Bank of England minutes have shown that the MPC members were split on assets purchases which has weighed heavily on GBP, falling from 1.1920 to 1.1870 almost instantly against EUR. The members voted 7-2 in favour of further QE - the market had expected this to be a unanimous decision (markets dislike uncertainty in any direction).
What does this all mean for me? Well buying your EUR, USD, AUD or any other currency at the wrong time could cost you a fortune. There is no crystal ball but Currency UK can give you the information you need to make an informed decision.
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Posted in Daily Market News on May 30 2014
After Euro zone finance ministers exchanged their views on how to resolve the lockout between Greece and the size of haircuts to be taken by its private creditors, at almost 3 am in Brussels they appear to have reached a deal that will see Greece being financed by 130 billion...VIEW FULL ARTICLE
Posted in Daily Market News on Feb 21 2012 by alex