Euro/dollar edged upwards from yesterday’s (May 16th) levels, but the markets remain nervous about the political crisis in Greece. A caretaker government will run the country until elections in June. The possibility of a Greek exit could undermine the Euro-zone and affect countries like Spain and Italy. The European markets will looking to catch their breath and enjoy a quieter day, with bank holidays in France and Germany and no Euro-zone releases scheduled. There are two key releases today in the US, Unemployment Claims and the Philly Fed Manufacturing Index.
Here’s an update on technicals, fundamentals and what’s going on in the markets.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-may-17-euro-steadies-but-greek-election-drama-continues/"]EUR/USD Steadies but Greek Election Drama Continues[/URL][/I][/B]
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