Eurozone Awaits Greek Election Results

30 December, 2014

Simon Eastman

As we came back to trading, with a lack of any real data releases to move markets traders awaited the Greek election results and the euro started on the front foot against sterling and the US dollar. The fact that former European commissioner Stavros Dimas failed to secure the votes required to be elected president means that a general election will now be held in late January/early February meant the rally failed to build momentum. The pound however, traded to the downside against most of the major currencies although the swings were little to worry about and trading remained range-bound.

Today we have a few low key releases from across the globe, with UK Nationwide house price index, EU money supply and Italian inflation figures. The most high profile release comes this afternoon from across the pond in the shape of US consumer confidence at 3pm.

Which currency will end the year on the up? Stay in touch with the team at CI to find out and make sure to get in early if you have a transfer to make before the yearend as we are subject to limited trading hours today and tomorrow.