Key Quotes
“The focus in the week ahead is likely to remain on Greece with the talks this week not reaching a conclusion and set to extend into next week.”
“A Greek government official confirmed that it continues to seek a “bridge-financing” agreement with the government maintaining that it will not seek another tranche of funds under the current bailout agreement. Financing from ECB profits, additional T-bill sales and excess funds from the bank recapitalization funds could all be tapped to finance a bridge deal.”
“Further talks are expected with a conclusion set for 16th February. We’re not sure we’ll get a definite conclusion by next Monday but for sure Greece will remain in focus.”
“The key event for EUR/USD outside of the euro-zone will be the semi-annual testimony to Congress by Fed Chair Yellen – but that comes the following week – on 24th/25th February.”
“With no major dollar specific events before then, we are inclined to think that the EUR/USD rate will remain broadly stable.”
“While Greece might be a negative factor, we don’t see next week as necessarily being a deadline that could spark selling – hence we maintain our recent neutral bias.”
“EUR/USD – neutral bias – (1.1200-1.1600)”
EUR/USD Feb 13 at 08:09 GMT
1.1431/31 (0.18%)
H1.1441 L 1.1394
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Description: EUR/USD neutral bias into the week ahead – BTMU
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Rating: 4.0
ItemReviewed: EUR/USD neutral bias into the week ahead – BTMU
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