Currency Analyst since 2010


FXBAZOOKA.com - The market remains in the situation of great uncertainty. Euro initially jumped on CNBC headlines that a Greece agreement had been reached 'in principle'. Further information showed, however, that no deal was reached between Greece and other euro zone governments on Wednesday. EUR/USD is in the 1.1300/1355 area. The European Council’s meeting is to take place later on Thursday, and the market participants await comments from the European political leaders on the Greek question.

Risk sentiment also depends on geopolitical developments as France, Germany, Russia and Ukraine negotiated in Belarus through Wednesday night and into Thursday morning in order to defuse the escalating conflict in eastern Ukraine. However, there are fears that the peace deal wouldn’t last long. USD/JPY edged down a bit after rising almost to 120.50 on Wednesday, but is still trading above the 120 handle.

Crude oil rebounded as Saudi Arabia and Russian energy giant Gazprom discussed cooperation between OPEC and its non-OPEC oil producers. US crude oil rose by 1.3% to $49.45 a barrel after dropping as much as 3% overnight as US stockpiles hit record highs.

AUD/USD fell below 0.7650 after weak jobs data increased prospects for further easing by the Reserve Bank of Australia. The nation’s unemployment rate jumped from 6.1% to 6.4%.

Here are the main economic events for today:

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