{"id":8782,"date":"2010-04-23T08:30:14","date_gmt":"2010-04-23T12:30:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8782"},"modified":"2010-04-23T08:30:14","modified_gmt":"2010-04-23T12:30:14","slug":"euro-tumbles-on-possible-greek-default","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/23\/euro-tumbles-on-possible-greek-default\/","title":{"rendered":"Euro Tumbles on Possible Greek Default"},"content":{"rendered":"<p><strong>By Peter Robinson<\/strong> &#8211; Greek debt worries returned to dominate the forex market yesterday.  Investor concerns increased yesterday after the European Union (EU)  published the Greek budget deficit. Greece may need to use the bailout  offered by the EU as traders don\u2019t believe Greece would be able to repay  its debts despite moves to cut expenses.<\/p>\n<p>The EUR has taken a dive against the USD  to its lowest price in a year. The EUR also declined against JPY and  other major counterparts. Today we have news mainly from the U.S. which  should support its trend up against its major counterparts. The U.S.  economy is showing signs of recovery, which also was acknowledged  yesterday by Obama in his speech to Wall Street.<\/p>\n<p><em>Today\u2019s leading indicators<\/em>:<\/p>\n<p><strong>8:00 GMT: EUR \u2013 German Ifo Business Index<\/strong><\/p>\n<p>&#8211; This survey is highly regarded and it previously came in much  better than expected. The data released today is anticipated to be  positive and signal economic expansion in Germany. This is also a  positive indication about wider Europe, but doubts exist whether it will  be enough to boost the EUR against its major counterparts.<\/p>\n<p><strong>12:30 GMT: USD \u2013 Core Durables Goods<\/strong><\/p>\n<p>&#8211;  This indicator measures manufacturing activity. After positive  data released yesterday for home sales and unemployment, it would  interesting to see if manufacturers are indeed increasing activity.  Better than expected results would support commodities, mainly Crude  Oil, if results turn less than expected, Oil prices could decline  sharply.<\/p>\n<p><strong>14:00 GMT: USD \u2013 New Home Sales<\/strong><\/p>\n<p>&#8211; Investors received great news by existing home sales yesterday and  would be pleased to see improvement in new home sales too. The real  estate industry is the most sought after indicator after unemployment  rates. Continual improvement in these indicators would increase consumer  and investor confidence in regards to the U.S. economy.<\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex                      Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                      may not be suitable for all investors. There is a           possibility      that     you   could sustain a loss of all of   your         investment and      therefore  you     should  not invest   money  that   you      cannot afford to      lose. You  should  be      aware of   all   the    risks   associated with   Foreign    Exchange    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Peter Robinson &#8211; Greek debt worries returned to dominate the forex market yesterday. Investor concerns increased yesterday after the European Union (EU) published the Greek budget deficit. Greece may need to use the bailout offered by the EU as traders don\u2019t believe Greece would be able to repay its debts despite moves to cut &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/23\/euro-tumbles-on-possible-greek-default\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Euro Tumbles on Possible Greek Default&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8782","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=8782"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8782\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}