EUR/USD one month 1.06 target quite achievable - Westpac

FXStreet (Bali) - Westpac's one month EUR/USD target of 1.06 is suddenly looking quite achievable, while AUD/USD should remain under pressure, notes Sean Callow, FX Strategist at Westpac.

Key Quotes

"Our one month EUR/USD target of 1.06 is suddenly looking quite achievable. Friday’s CFTC data showed specs had stopped cutting their EUR shorts last week, but at -47k contracts, leveraged funds are only moderately short EUR, compared to -175k in March."

"While EUR weakness on crosses is the main story, AUD/USD should remain under pressure near term, likely to probe 0.7550/75 and potentially under key support at 0.7535/40 multi-session."

Jun 29, 2015

Greece: Hard where to begin describing events last 48 hours - ANZ

The ANZ Research Team notes that the only thing that we know for sure is that uncertainty is high, and in that environment, many markets will catch a safe haven bid.

European benchmark indexes heavily sold

IG is reporting on European market futures being heavily sold off with FTSE -192, DAX -463, CAC -213, IBEX -474, MIB -989. The capital controls in Greece (banks will close for the next 6 business days) together with the official Greek default on the IMF on June 30th, has sent global markets, especially European into turmoil, with many unknowns resulting in a huge sense of uncertainty.