The US dollar was hit and the euro surged as optimism eventually followed the Greek bailout announcement. The upcoming week features the long awaited appearances by Ben Bernanke, updated US GDP and the long awaited LTRO of the ECB (cash to eurobanks), among other events. Wednesday, February 29th, is of high importance. Will the picture around Greece change after European banks get more money? Here is an outlook for the major market moving events awaiting us.
Despite the strong sentiment, there are too many reasons to doubt the Greek deal: rapid approval of news measures by Greece, unknown IMF contribution and doubts by major players continue showing that a Greek bankruptcy at the end of March has greater chances. In the US, things are getting better, despite the rise in oil prices. Last week US jobless claims continued improving with a better than expected reading of 351K. This low-level steady-state ensures a genuine recovery of the US labor market, with elevated job creation and ongoing decrease in unemployment rate. Let’s start:
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/forex-weekly-outlook-feb-27-mar-2/"]Forex Weekly Outlook Feb. 27-Mar. 2[/URL][/I][/B]
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