Forex Weekly Outlook June 28th 2015



Welcome to your weekly forex update from PrimePair. Last week’s trading news was heavily influenced by rumors out of Greece that a debt deal was forthcoming. While the news lifted global stocks, it did little to help the euro. Traders were skeptical of the prospects for a comprehensive deal, which weighed down on the common currency. Meanwhile, the dollar had a decidedly mixed week, despite first quarter US growth data being revised upwards. Additionally, positive US spending data did little to boost the greenback, which took losses against several of its main counterparts to close out the week. This week, news out of Greece is likely to have a significant impact on the markets, while traders will be eagerly looking forward to US jobs data. Greece’s bailout funds will expire on Tuesday, providing it misses a payment to the IMF. If so, the country risks default and an exit from the euro zone. Further complicating things is the surprise national referendum Prime Minister Alex Tsipras called for July 5th, in which the Greek people will be asked to vote on the latest proposed bailout package for the country. Later in the week, attention will shift to the US non-farm payrolls report, which will be released on Thursday instead of Friday this month due to the July 4th holiday weekend. Analysts are forecasting that 231K jobs were added last month, which if true, may give the dollar a significant boost going into the rest of the week. Last week’s news: - Rumors of Greek debt deal provide little help to euro - http://primepair.com/forex-news/global-stocks-surge-on-hopes-of-greek-deal-23-06-2015 - US first quarter growth revised upwards - http://primepair.com/forex-news/us-growth-revised-upwards-25-06-2015 - Dollar sees mixed trading despite positive US news - http://primepair.com/forex-news/dollar-mixed-after-robust-consumer-spending-26-06-2015 This week’s news: Greece risks default if it misses IMF payment on Tuesday Greek referendum on bailout proposal set to take place on July 5th US non-farm payrolls expected to show 231K jobs added in June Image credit - Yannis Behrakis for Reuters

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