EUR/USD trading sideways between 1.31586-1.3196.
Trading has been contained between these levels since the start of the new session with added support from the 100 bar moving average. Futures for the major European equity indexes indicate they will open higher which may add buying pressure. If we can move higher through 1.3196 we should see the pair re-test the 1.32173 high.
Greek gov’t spokesman says the bulk of talks with Troika lenders is over, a few sticking points remain.
Moody’s Senior VP of severign risk says there is not much risk to Asian ratings this year.
European officials are seeking to involve central banks in Greek haircut deal.
Swiss Trade Balance 2.07B in December; worse than the 2.85B forecast.
- December imports up 7.6%.
- December exports up 6.1%.
BOE’s Posen Comments on BBC Radio
- UK inflation will continue to ease.
- Economy would be in a worse position if BOE hasn’t done QE.
- ECB loans have “worked quite well”.
- Interbank market has definitely improved.
- Authorities must do more to boost SME lending.



