Today’s trading still looks to be impacted from speculations surrounding the Greek rescue plan. At the beginning of the last week, the Euro dropped against the Dollar and the Yen due to fears that the Euro-Zone isn’t preparing a bailout plan for the Greece economy. Then later on, several reports have suggested that Germany is about to propose a 20 billion Euros rescue plan.
This has completely reversed trends in the market, and the Euro managed to erase losses against the Pound and the Yen, and to slightly recover against the Dollar. Nevertheless, it should be noted that no official comment was made on this issue till now.
The Greece debts issue is likely to continue to be the most influential event this week and traders are advised to look for official statements from the Euro-Zone as this will have an immediate impact on the market. Moreover, an official statement that confirms the Euro-Zone’s intention to bailout the Greece’s economy is likely to boost the Euro.
Today there aren’t any news events on the economic calendar that are likely to create volatility in the market. Therefore traders are advised to follow equity markets around the world, and to look for any developments regarding the Greek debt rescue plan.
