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We provide real-time forex news and analysis at the highest level while making it accessible for less-experienced traders. Since 2009, ForexLive™ has been one of the most-visited foreign exchange trading hubs.
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  • ForexLive North American Wrap: Greece Still The Word 0 comments
    May 8, 2012 4:17 PM | about stocks: FXY, FXE
    • Samaras willing to tolerate minority government
    • Greece's Tsipras: There must be a moratorium on Greek debt repayments
    • Spain PM Rajoy: Spanish funding market shuttered
    • Spain to order large bank capital buffers
    • Monti convinced eurobonds coming one day
    • IIF's Dallara: European austerity may have gone too far
    • EU to discuses Greece May 16
    • JOLTS job openings rise to 3737 from 3565
    • Rumors of a US natural gas pipeline cyber attack
    • WTI crude down 63-cents to $97.30 after touching $95.25
    • March Canada housing starts 244.9K vs 204K exp
    • Gold falls to lowest since January
    • Greece stocks fall to lowest since 1992
    • US 10yr yields fall to 3-month low
    • S&P 500 falls 0.4% to 1364

    The comments from Tsipras caused lots of chatter about the implications of a Greek eurozone exit, sending the euro to 1.2982. EUR/USD (FXE) staged a comeback when Samaras said he would be willing to tolerate a minority government. That got the euro to 1.3025 and a later rebound in stocks sparked it further to 1.3043. Optimism has waned late despite the stock market rebound with EUR/USD at 1.3012.

    USD/JPY (FXY) scrambled to 79.91 in the early going but a breakdown in US yields weighed and the pair drifted to 79.74. Late optimism led to a small climb to 79.84.

    Repeated efforts to sell GBP/USD below 1.6125 were defended and the pair rebound to 1.6169.

    Oil, gold and the commodity currencies were hit with USD/CAD climbing above parity and to 1.0020.

    http://www.forexlive.com/blog/2012/05/08/forexlive-north-american-wrap-greece-still-the-word/

    Themes: Market ReCap Stocks: FXY, FXE
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