Greece News - FX Trading

Sat 23 Sep 2017
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Greece News

Latest 10 news items tagged Greece

Greece buys back bonds to tackle debt5 Dec at 9 AM 2012

The Greek government has announced that it plans to reduce the country’s debt by introducing a bond buying programme. Being able to prove it is possible to cut debt is one of the conditions required by eurozone finance ministers in exchange for another bailout payment. Greece has been waiting for another tranche of financial help since June. Last week ministers met with the International Monetary Fund and tentatively agreed to pay nearly 44 million euros on 13 December. Athens will offer to buy back 10 billion euros worth of its...

Euro down against the dollar as fiscal cliff looms21 Nov at 9 AM 2012

The euro has dropped slightly against the dollar as investors focus on whether Congress and the White House can come to an agreement over how to avoid the impending fiscal cliff. The euro dropped 0.08 per cent against the dollar to end at 1.2807. The euro has also been weakened by the decision by Moody’s to downgrade France’s rating from AAA to AA1. However, the single currency has levelled as traders also wait to see what the results of a meeting of European finance ministers will be as they discuss the financial situation in...

Euro drops against dollar and yen14 Nov at 9 AM 2012

The euro is hovering at its lowest level in nearly two months as weak economic data coming from Germany shows that even the eurozone’s strongest economy is not immune to the problems being experienced by its neighbours. The single currency has also been hit by uncertainty over the situation in Greece. A weak ZEW sentiment survey from Germany saw the euro trade at $1.2702. However, there are indications that aid could flow to Athens as international lenders consider sending more cash. Reports in the German press that a single payment...

Aussie dollar up as interest rate unchanged 7 Nov at 9 AM 2012

The Australian dollar has shown strong gains as the country’s central bank announces it will not be making further cuts to interest rates at the current time. The news comes as the dollar dipped slightly as all eyes are fixed on the results of the US presidential election. However, the markets appear to be preparing for a win by White House incumbent President Obama. If he does win then attention is likely to move back to Europe and its continuing sovereign debt drama. The euro bounced slightly as it looks likely the authorities in...

No plans to weaken Aussie dollar31 Oct at 9 AM 2012

The Australian dollar is attracting investors following confirmation by the country’s central bank that it does not consider the currency to be overvalued and is not planning to intervene to weaken it at the moment. The Aussie dollar is currently trading at $1.0366. BNP Paribas analysts have pointed out that allowing the dollar to float freely is in contrast to many Asian nations that are keeping a close eye on the appreciation of their currencies. The yen has dropped as investors become interested in riskier assets after making...

Euro hits four-month high versus dollar11 Sep at 6 PM 2012

The euro experienced gains in Tuesday that took it to a four-month peak versus the US dollar on renewed hopes that a German court is set to lend its support to the bailout fund in the region. However, despite the rise, the euro’s gains were expected to be limited as there is still the potential of the constitutional court in Germany rejecting the bailout fund in Wednesday’s ruling. If that should happen, it would see the European Central Bank’s plans of lowering Italy and Spain’s borrowing costs put at risk under the European...

German government criticised Greece bullying28 Aug at 9 AM 2012

Members of the German government have criticised a politician for “bullying” Greece in regards to the Eurozone crisis. Chancellor Angela Merkel said that words should be weighed carefully after her political ally and leader of the Christian Social Union, Alexander Dobrindt, said he expects Greece will have the leave the euro by 2013. Mr Dobrindt, whose party is a junior coalition member of Merkel’s Christian Democrats (CDU), also called ECB chief Mario Dranghi a “currency forger” for Europe. His comments came despite Merkel...

Euro rally ends after four days27 Aug at 9 AM 2012

The euro ended a four-day rally against the dollar on Friday after hitting a high of seven weeks on Thursday. Investors are still optimistic about the common currency, however, as Eurozone leaders seem to be moving towards tackling the debt crisis. The single currency was down 0.3 per cent from Thursday’s high of $1.2590 yesterday, the best result for weeks. The rally came amid rumours that Spain was seeking to reduce its borrowing costs this week in talks with Eurozone leaders about the conditions of a potential bailout. The...

Merkel and Holland meet to discuss Greek debt extension23 Aug at 11 AM 2012

The French are German leaders are due to meet today in Berlin to discuss whether or not Greece will be given more time in order to make the cuts required by its bailout package. Francois Holland, the French president and Angela Merkel, the German Chancellor will also meet Greek Prime Minister Antonis Samaras after Jean-Claude Juncker, the Eurozone chief, suggested yesterday that an extension was still an option. Greece remains in a deep recession and is still to finalise its programme of reforms and spending cuts that will help it pay...

Euro clings on but remains vulnerable21 Aug at 10 AM 2012

Despite doubts about whether policymakers and debt-stricken Eurozone countries can come to an agreement this week, the euro remained steady today and stood little changed in Asian trade at $1.2358. This is down from the high of 6 August when the ECB announced that it would lower borrowing costs for Spain and Italy, and the euro still appears vulnerable ahead of a few key meetings this week. Many investors have been hoping that the ECB would kick start its bond buying programme in September, but a report suggesting this in German...