{"id":71615,"date":"2015-04-27T07:16:14","date_gmt":"2015-04-27T11:16:14","guid":{"rendered":"http:\/\/countingpips.com\/?p=71615"},"modified":"2015-04-27T07:23:45","modified_gmt":"2015-04-27T11:23:45","slug":"euro-edges-lower-as-traders-eye-greek-payments","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/04\/euro-edges-lower-as-traders-eye-greek-payments\/","title":{"rendered":"Euro Edges Lower as Traders Eye Greek Payments"},"content":{"rendered":"
April 27, 2015<\/div>
\r\n<\/div><\/div>

Article by ForexTime<\/a><\/p>\n

EUR\/USD has come under pressure after trading steadily during Asian\u2019s session. The pair has dipped to 1.0840 from the upper 1.08s. The intraday peak was short of Friday\u2019s 1.0900 peak. Support is at 1.0845 and 1.0769, which is the current position of the 20-day moving average. Resistance is at 1.0897-1.0900, which encompasses the 50-day moving average and Friday\u2019s peak<\/p>\n

The Greek government, after failing to get an agreement with its creditors last week that may have unlocked further aid payments, already froze local government accounts and those of public entities in order to be able to cover month end payments. There are now reports that tax debtors are seeing their accounts frozen, which some see as a sign of the arrival of capital controls. Sizeable amounts of savings were apparently withdrawn last week, but the report by Kathimerini of a tax debtor that saw his account frozen until he paid his dues may be mainly part of a tax crackdown.<\/p>\n

That tax authorities have access to bank accounts is not unusual and that taxes due are directly withdrawn from accounts is practice in other European countries. Still, it clearly is true that the government is increasingly facing a cash crisis and that Greek banks, while still hanging on the lifeline of ELA assistance are fearing a possible increase in haircuts on Greek collateral, which would add to their own problems.<\/p>\n

In economic data released Monday, German April import price inflation rose to -1.4% year over year from -3.0% year over year, with prices up 1.0% month over month amid the weaker EUR, which is pushing up import prices. Together with the fact that base effects from lower energy prices are falling out of the equation the weaker EUR will quickly bring headline rates back into positive territory, confirming that there is no risk of a deflationary spiral and that inflation numbers may rise quicker than previously thought amid the ECB\u2019s very expansionary policy and the rise in domestic demand.<\/p>\n

 <\/p>\n

\n

\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime EUR\/USD has come under pressure after trading steadily during Asian\u2019s session. The pair has dipped to 1.0840 from the upper 1.08s. The intraday peak was short of Friday\u2019s 1.0900 peak. Support is at 1.0845 and 1.0769, which is the current position of the 20-day moving average. Resistance is at 1.0897-1.0900, which encompasses […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-71615","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/71615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=71615"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/71615\/revisions"}],"predecessor-version":[{"id":71619,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/71615\/revisions\/71619"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=71615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=71615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=71615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}