Home

    You are here

EURO FELL WHILE ASIA FOLLOWED WALL STREET UP

You are here

EURO FELL WHILE ASIA FOLLOWED WALL STREET UP

EURO FELL WHILE ASIA FOLLOWED WALL STREET UP

Dec 29 2014, 09.48 GMT

STOCK.com

EUR fell to near 28-month lows against USD in anticipation of the key vote in Greece while Asian stocks rose and Wall Street showed new gains.

EURUSD currently trading at 1.21798, very close to its lowest value of 1.2165 in August 2012.

MT4 GRAPH: EURUSD  

EURO FALLS

Greece is voting today to see whether the country's leading coalition will gain enough votes to elect a president. Former European Commissioner Stavros Dimas, the candidate for the leading coalition, needs to gather 180 votes in parliament to become president. If the vote is not gained, there is a possibility of a snap election that could lead the leftwing opposition Syriza party to power and ruin an international bailout plan for Greece.

Masafumi Yamamoto, a market strategist at Praevidentia Strategy in Tokyo, anticipates recovery for the euro if Dimas is elected as negotiations with the creditors will continue in this case.

"On the other hand, the euro could fall towards $1.21 if the 180 votes are not secured, as the market will ponder the risk of the left-wing Syriza party, which is against fiscal reconstruction, taking power after a snap election next year," said Yamamoto.

However, euro will still probably face downward pressure in the longer-term due to the prospects of further monetary easing by the European Central Bank in 2015.

MSCI's broadest index of Asia-Pacific shares outside Japan went up from 340.50 on Friday and currently trading at 344.05. Australian shares rose as well, currently trading at 5434.00

MT4 GRAPH: MSCITaiwan

MSCITaiwan went up

MT4 GRAPH: Sydney200

Australian stock went up

Tokyo's Nikkei slid from 18005.00 on Friday to 17690.00 today on reports of a suspected Ebola case in Japan. However, the index is still on the upward trend of about 8% gain on the year.

MT4 GRAPH: Japan 225 (Nikkei)

Nikkei slid

The Dow [USA30] and S&P 500 [USA500] both closed at record highs on Friday but lost those gains on Monday.

MT4 GRAPH: USA30

USA30 UP

MT4 GRAPH: USA 500

USA500

Trade forex and indices CFDs on STOCK.com with full training given to all clients

 

 

 

Forex Block Actions

Trading Platforms

MetaTrader

Through a simple native App download, be ready to log on to the powerful, intuitive MT4 platform and trade multiple assets on your desktop or through mobile

More on MetaTrader

WebTrader

Online access - anytime, anywhere - to your secure STOCK.com account, through desktop, tablet and mobile interfaces with no download necessary

More on WebTrader

Trading in CFDs involves significant risk to your invested capital