Collinson FX Market Commentary- Dec 31

Collinson FX Market Commentary- Dec 31 - It's all Greek

by Collinson FX on 31 Dec 2014

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Collinson FX market Commentary: December 31, 2014

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Dec 31 - Political turmoil in Greece interrupted market torpor and pricked a sell-off in equities across Europe which spread to US markets. Oil prices remained severely depressed which added to energy company woes and energy producing countries.

New, early elections were called in Greece, destabilising markets, as questions over EU/ECB bailout contracts arose. The uncertainty re-awakened skeleton markets as only Greece can do. The EUR was steady, trading 1.2150, while the GBP rose to 1.5555.

The AUD managed to book gains, boosted by a jump in Iron Ore prices, while the KIWI managed to break above 0.7800! Happy New Year and although markets are open on Friday (except NZ) expectations are low!

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