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Forex market reviews

02 July 2015

Market sessions

Alexander Razuvaev

S&P: Grexit Will Cost Country 20% of its GDP

S&P expects a sharp drop in Greek GDP if the country leaves the Eurozone with GDP to fall by 20% over the course of four years. Greek banks and the payment system will not be able to function without the financial support of the ECB. The national currency, to which Greece will have to switch back to, will lose a lot of value against the euro, leading to an explosion Greek debt denominated in euros.
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Commodities

Anna Bodrova

Throughout the Day Brent Could Rise to $62.7

Throughout the trading day, Brent could reach $62.7 per barrel or drop down. WTI is looking to trade in the region of $57.10-58.10 per barrel.
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Market sessions

Vladislav Antonov

Pound Stabilizes Around 1.56

The pound cheapened to the 135th degree against the USD. Pressure on the pound came from weak PMI data from the UK and decent indicators on the US.
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01 July 2015

Market sessions

Vladislav Antonov

Dollar Trading Up on Euro and Pound

Trades in Europe opened going in different directions. At the start of trading, the euro/dollar was down to 1.1094 and the pound/dollar had risen to 1.5732. After a publication in the Financial Times about how Alexis Tsipras is ready to accept the creditors conditions, the euro/dollar pair returned to 1.1170.
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Market sessions

Vladislav Antonov

Pound Target: 1.5645

On Tuesday the pound/dollar was fluctuating in Monday’s range. After a growth to 1.5775, the pair returned to 1.5710. In Asia the rate of the British pound broke the trend line. For me, there’s only one way this is going: down to the 90th gradient.
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Market sessions

Vladislav Antonov

Euro Ready to Stray from LB

Yesterday was anything but simple, but my expectations for the euro and pound rang true. The euro stuck above 1.11 on hearing that Greece declined to pay up the IMF. By the close of trading in the US, the euro/dollar was trading at the LB : 1.1140.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub
Vadim Iossub

Senior Alpari analyst

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