The euro recorded gains against most of its major counterparts, as news concerning Greece’s debt restructuring hit the markets. The private bondholders had until 20:00 GMT last night, to announce their participation or not. According to the Greek government the participation rate in this exchange of debt will reach 95% after the nation went ahead with activating collective action clauses (CACs). The total amount of debt involved in this swap is estimated at EUR 197 billion, undoubtedly the world’s biggest restructuring. Earlier, the European Central Bank (ECB) announced its decision to leave its interest rate unchanged as expected. The central bank President Draghi cited latest data as a confirmation of the stabilizing eurozone economy, even though the economic outlook remains subject to downside risks. Against the US dollar, the single currency advanced to 1.3271 from 1.3141.
The US dollar produced mixed results versus a basket of currencies ahead of the Non-Farm payrolls (NFP) release later today. The ADP employment figures on Wednesday – thought to be predictive of the NFP release - came out slightly better than expected. Against the Japanese yen, the greenback rose to 81.59 from 81.34. Versus the Swiss franc, the US dollar drop to 0.9083 from 0.9169. The US dollar also dropped against the Canadian dollar after the nation’s central bank left its lending rate at 1.00%.
The British pound rose to 1.5821 from 1.5732 versus the US dollar, following the announcement by the Bank of England to leave its bank rate untouched and not to engage in additional asset purchases. The Australian dollar rebounded to 1.0643 from 1.0567 against the US dollar.
Oil prices rose to 106.53 from 105.77 dollars a barrel. Gold advanced to 1701.79 from 1684.93 US dollars an ounce. Against the euro, gold dropped to 1280.46 from 1281.36 an ounce. Silver jumped to 33.8416 from 33.3976 dollars an ounce.
|EURUSD||1.3290||SHORT @ 1.3290||41% of deals buy EUR|
|USDJPY||81.30||LONG @ 81.30||25% of deals buy USD|
|GBPUSD||1.5840||SHORT @ 1.5830||47% of deals buy GBP|
|AUDUSD||1.0590||LONG @ 1.0590||48% of deals buy AUD|
|GOLD||1683||LONG @ 1683||67% of deals buy GOLD|
|OIL||106.15||LONG @ 106.15||38% of deals buy OIL|
|GBP||09:30||Industrial Output m/m for January||0.30%|
|CAD||13:30||Unemployment Rate for January||7.60%|
|USD||13:30||Non-Farm Payrolls for February||210k|
|FTSE 100||1.18%||S&P 500||0.98%||NIKKEI||1.65%|