Forex and Domain

Spoke Greek restructuring debt, or by default are intensifying, after being denied for long enough. This weighs heavily on the EUR/USD, which is now in support. Update.

The German Finance Minister, who is known as quite a large mouth, suggested restructuring earlier in the week and then denied. But now, another German Minister, is already preparing this development, it will not be a disaster, and that in Germany, the country which pays the Bills higher, will pay for it.

This is consistent with conflicting messages of the Greece, who wants more aid, but denies that should be by default. The option of implementation of a Brady plan, which was rejected earlier in the year, now appears as a missed opportunity to resolve this crisis in a better manner. Yields Greek and CDS spreads are piercing in the sky, showing that the market sees Greece default on its debt.

EUR/USD trades now to about 1.44, after bouncing on approximately 1.4380 support. He traded earlier to about 1.4460. For more levels, see the EUR/USD forecast.

It is also important to mention that this fall in the Euro/Dollar comes despite the weak figures in the us. Other currencies are gaining against the greenback, while the Euro is down.

The American Consumer Price Index increased by 0.5% as planned, but Core CPI, which is closely watched by the Federal Reserve, has increased by only 0.1%, showing that a rate hike is still very far away. Purchases of long-term ICT also fell short of expectations - only 26.9 billion instead of 59.4 that was expected. The only U.S. figure slightly exceeded expectations was industrial production, which increased by 0.8%.

Another large figure us out soon - first release of consumers by the University of Michigan.

Update: consumer scored 69.6, slightly better than expected 68.7 points. EUR/USD rises despite this figure, on the refusal of a Greek default costs. As we have seen denials are the safe way to realizing.