The main currency pair in the last week of February remains under pressure: Greece has not decided what he would do with their debt, and the time is coming to do so.
The euro/dollar continues to decline. The week opened with sales amid the Greek nebula, where uncertainty as to the Athenian finances persists to the present day. This factor weighs on the euro more than it ever has.
Daily statistics was interesting. German GDP grew in the fourth quarter of 2014 by 0.7%. The main factor of the increase in the index was the support from local consumption. The population is ready to spend, and this will support the German economy for some time. However, it should not be counted on as serious long term support. According to the components of the report, net exports give 0.2% to the GDP, and consumption adds 0.5%.
Inflation in Germany remained moderate, and prices did not grow to the delight of the consumers. This leads customers to the stores. People's willingness to spend is a good signal.
The market would have played on the good German GDP in full, but alas - the shadow of the Greek tragedy is hanging over the euro zone and threatens even stronger. February 28 ends the official term of the third package of aid to Greece from the "troika" of creditors. New negotiations still have not happened: Athens wants a reprieve, but at the same time they want to spend and live in a big way. Europe would like the debts returned and to reduce market tensions.
RoboForex Analytical Department
The euro/dollar continues to decline. The week opened with sales amid the Greek nebula, where uncertainty as to the Athenian finances persists to the present day. This factor weighs on the euro more than it ever has.
Daily statistics was interesting. German GDP grew in the fourth quarter of 2014 by 0.7%. The main factor of the increase in the index was the support from local consumption. The population is ready to spend, and this will support the German economy for some time. However, it should not be counted on as serious long term support. According to the components of the report, net exports give 0.2% to the GDP, and consumption adds 0.5%.
Inflation in Germany remained moderate, and prices did not grow to the delight of the consumers. This leads customers to the stores. People's willingness to spend is a good signal.
The market would have played on the good German GDP in full, but alas - the shadow of the Greek tragedy is hanging over the euro zone and threatens even stronger. February 28 ends the official term of the third package of aid to Greece from the "troika" of creditors. New negotiations still have not happened: Athens wants a reprieve, but at the same time they want to spend and live in a big way. Europe would like the debts returned and to reduce market tensions.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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