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EURUSD: Greece on the Eve of Revision

04 July 09:14 AM

Forex news, EURUSD.
Today, on July 04, experts of European Commission, ECB, and IMF are in the Athens with an estimating mission. Such late visit of creditors is connected with two rounds of pre-schedule parliamentary elections, held on June 06 and on June 17. “Greece will have to inform the guests about its “worrying” economic condition,” said the official representative of Greek government Simos Kedikoglou on Tuesday, “we will provide information that brings shock. Recession and unemployment data is worrying, and it clearly shows that current policy does not bring any positive results.”
According to First Deputy Finance Minister Christos Staikuras, the country’s economy has reduced by 6.5% during the first quarter this year, and it is expected to drop further during the third quarter – to 9.1% on an annual basis.
The government owes EUR 6.4 bln.to the private sector. This phenomenon is accompanied by bankruptcy and the whole range of negative social consequences, caused by the lack of trust to governmental insurance scheme.

According to the specialists of the System of Early Prediction Sub-department of Masterforex-V Trading Academy, on Wednesday at Forex market EURUSD will show complication of correctional movement within supposed wave of h1 level due to the celebration of independence day in the USA, and, consequently, low volatility at American trading session.

Analysis by: Alex von Stachelkopf, analyst of Forex EURUSD Department, trader of SRP Sub-department of Masterforex-V Trading Academy

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