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30 Dec 2014
Session Recap: EUR/USD at 2-year lows; USD/RUB resumes its drama
FXStreet (San Francisco) - The Euro traded under pressure on Monday as investors were far away from the single currency after the news that Greece was unable to form a government and the IFM suspended the bailout review.
In addition, the Ruble resumed its drama after Russia posted its first GDP decline in 5 years. The USD/RUB was the top mover of the day as it climbed 9% on the day to 58.287. The ruble is completing a jump of 77.53% YTD.
The EUR/USD fell to a fresh low of the year at 1.2140 following Greece and IMF news. "Technically," Valeria Bednarik from FXStreet comments, "the 1 hour chart show that the neutral stance seen over the last few days has turned now in a bearish one, with the price extending below its 20 SMA and indicators heading north below their midlines."
The GBP/USD was dragged by the EUR/GBP cross and it declined to 1.5500 while the USD/JPY climbed to 120.75.
The New Zealand Dollar reported solid gain versus the USD and the JPY as the Kiwi was driven after the PBoC redefined its loan-to-deposit ratios calculation to boost lending. Australian Dollar was another beneficiary.
Top winners on the day were the USD/RUB (+9.00%), NZD/JPY (+0.97%) and NZD/USD (+0.80%). Top losers were: USD/PLN (-0.71%), USD/KRW (-0.34%) and EUR/USD (-0.33%).
The Dow fell for the first time after seven positive days while the S&P ended at new highs. The Russell 2000 passed the 2K milestone. US Treasurys rose as investors were looking for safe haven after Greece crisis. Oil WTI declined to $53.00, 5 1/2 years lows. Gold fell to 1,184.
In addition, the Ruble resumed its drama after Russia posted its first GDP decline in 5 years. The USD/RUB was the top mover of the day as it climbed 9% on the day to 58.287. The ruble is completing a jump of 77.53% YTD.
The EUR/USD fell to a fresh low of the year at 1.2140 following Greece and IMF news. "Technically," Valeria Bednarik from FXStreet comments, "the 1 hour chart show that the neutral stance seen over the last few days has turned now in a bearish one, with the price extending below its 20 SMA and indicators heading north below their midlines."
The GBP/USD was dragged by the EUR/GBP cross and it declined to 1.5500 while the USD/JPY climbed to 120.75.
The New Zealand Dollar reported solid gain versus the USD and the JPY as the Kiwi was driven after the PBoC redefined its loan-to-deposit ratios calculation to boost lending. Australian Dollar was another beneficiary.
Top winners on the day were the USD/RUB (+9.00%), NZD/JPY (+0.97%) and NZD/USD (+0.80%). Top losers were: USD/PLN (-0.71%), USD/KRW (-0.34%) and EUR/USD (-0.33%).
The Dow fell for the first time after seven positive days while the S&P ended at new highs. The Russell 2000 passed the 2K milestone. US Treasurys rose as investors were looking for safe haven after Greece crisis. Oil WTI declined to $53.00, 5 1/2 years lows. Gold fell to 1,184.