The leaders meeting, which kept the euro tense has ended in Brussels and the euro is moving up once again. These are the certain facts. Earlier it fell on reports of an ultimatum for Greece and a “take it or leave it†offer. Now there unconfirmed rumors that there is a deal. It seems that the creditors have reached an agreement, but without Greece. Things look very choppy and so does the euro.
EUR/USD had already dropped towards support at 1.1150 and is now climbing back to 1.12.
- According to the Austrian finance minister, who has become more vociferous in recent days, the new deadline is Sunday.
- Greece said earlier that it got what it needed regarding the ELA – emergency support that keeps its banks alive.
- No comments were offered after the leaders’ meeting, only smiles.
- The Eurogroup was expected to convene at 11:00 GMT, but the schedules are flexible.
According to one reporter, a deal is imminent:
Habemus accordum
— Tossiro Mifune, (@aathans) June 25, 2015
But another reporter pours ice-cold water:
‘Feasibility’ means no agreement, documents now in prep by EC to see if it’s feasible for eurogroup to talk. It’s very difficult – source
— Bruno Waterfield (@BrunoBrussels) June 25, 2015
And this tweet which isn’t optimistic either:
RT @Elbarbie EU official: #Eurogroup will just state disagreements, Euro Summit likely tonight to put further pressure to @atsipras
— Yannis Koutsomitis (@YanniKouts) June 25, 2015
More: Trading Greece: EUR’s Reaction Function – BNPP
