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2 Apr 2015
Greece far from any deal – Investec
FXStreet (Barcelona) - Jonathan Pryor, Head of FX dealing at Investec, comments on the media reports citing that Greece decision is likely to extend into the next couple of weeks, and further shares the forecast for US payrolls.
Key Quotes
“…..the ADP measure of employment gains over March rose by 189K in March, which was below expectations. The slowdown was mostly driven by fewer job gains in goods producing industries.”
“However, employment in the services industries remained solid and should produce another 200k+ NFP result on Friday.”
“The miss in expectations in the ADP jobs report didn't hurt the Dollar for long though as an article from Der Spiegel suggested Greece doesn't want to respect an IMF payment deadline on April 9th, promptly sending the Euro tumbling and joining the already soft Pound against the Dollar.”
“Further, press reports on the new list of reforms presented by the Greek government suggest that we are far from a deal and that no decision is likely before next week or the week after.”
Key Quotes
“…..the ADP measure of employment gains over March rose by 189K in March, which was below expectations. The slowdown was mostly driven by fewer job gains in goods producing industries.”
“However, employment in the services industries remained solid and should produce another 200k+ NFP result on Friday.”
“The miss in expectations in the ADP jobs report didn't hurt the Dollar for long though as an article from Der Spiegel suggested Greece doesn't want to respect an IMF payment deadline on April 9th, promptly sending the Euro tumbling and joining the already soft Pound against the Dollar.”
“Further, press reports on the new list of reforms presented by the Greek government suggest that we are far from a deal and that no decision is likely before next week or the week after.”