SaxoTV

Koefoed: Why EUR could strengthen if no deal with Greece

958 views
June 25, 2015 currencies, currency, currency markets, currency pair, currency pairs, currency trading, ecb qe, ecb quantiative easing, ecb quantitative easing, euro, euro area, euro area gdp growth, euro dollar, euro zone, eurodollar, europe, europe growth, european, european central bank, european economy, eurozone, eurusd, foreign exchange, forex, forex market, forex markets, forex saxo bank, forex trading, fx, fx forex, fx investing, fx market, fx markets, fx strategy, fx trade, fx traders, fx trading, german consumer confidence, german consumer confidence', greece, greece bailout, greece crisis, greece debt, greece debt crisis, greece european union, greek, greek bailout, greek crisis, greek negotiations, greek talks, greexit, koefoed, mads, mads koafoed, mads koefoed, madskoefoed, saxo, saxo bank, saxo bank forex, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo capital markets, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxobank.com, saxotrader, saxotv, saxowebtrader, trade, trade idea, trade view, trader, trading, trading currencies, trading euro, trading eurusd, trading floor, trading fx, trading idea, trading risks, trading strategy, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloorcom
Talks between Greece and its international creditors are dragging on and the euro remains range bound against the dollar as the markets wait for news of a deal, but that may not be for long, says Saxo Bank’s Mads Koefoed.

Previously, any positive news in relation to the bailout talks has triggered a EURUSD rally, Koefoed says. This means that any bad news could see the pair trade lower in the short term, he adds. 

He expects the talks could drag on until the 11th hour and remains convinced that the two sides will eventually reach an agreement on a new bailout for Greece.

But no deal and Greece leaving the euro could potentially be good news for the euro in the long term. That is because the rest of euro area is doing quite well, Koefoed says, pointing to recent data out of Germany and surveys on GDP growth.