6 Apr 2015
Credit Agricole: Greece worries ahead for the EUR – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Agricole views that with a Greek deal seeming elusive at present, EUR outlook might remain clouded this week.
Key Quotes
“The Eurozone data calendar for next week may offer less excitement with only the German industrial production and trade data for February among the highlights. Uncertainty about Greece should therefore remain the main driver of EUR-sentiment. Investor concerns intensified again after the Greek reform proposals were met with scepticism by their creditors on 30 March.”
“The next IMF payment of EUR450m due on 9 April will likely keep the pressure on Athens to deliver. One cannot rule out completely the risk of a ‘Grexident’ where the troubled Eurozone member is unable to meet its immediate financial obligations. This still seems less likely to us, however.”
“That said, with a deal still seemingly elusive, market uncertainty could linger and cloud the EUR-outlook next week.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The Eurozone data calendar for next week may offer less excitement with only the German industrial production and trade data for February among the highlights. Uncertainty about Greece should therefore remain the main driver of EUR-sentiment. Investor concerns intensified again after the Greek reform proposals were met with scepticism by their creditors on 30 March.”
“The next IMF payment of EUR450m due on 9 April will likely keep the pressure on Athens to deliver. One cannot rule out completely the risk of a ‘Grexident’ where the troubled Eurozone member is unable to meet its immediate financial obligations. This still seems less likely to us, however.”
“That said, with a deal still seemingly elusive, market uncertainty could linger and cloud the EUR-outlook next week.”
This content has been provided under specific arrangement with eFXnews.