We have no news to report on the Greek deal that the Troika has delayed the presentation of the final draft until tomorrow. We will have to wait and see but it is thought that the Greek government is preparing a final version of n agreement on a budget and structural measures required for a 130 billion euro bailout.
Unemployment in Switzerland has risen to 3.4% in January although this was below the 3.5% that was expected and was slightly higher than the 3.3% of December. The USD/CHF was hammered on Tuesday as risk on trade sharpened. The USD/CHF is losing just 0.01% at 0.9123 and the next resistance levels are located at 0.9179 ahead of 0.9263.
The EUR/USD is hitting fresh highs above 1.3280 after bouncing off of a session low at 1.3240 following a quiet session in the Asian session. There have been reported large stops above 1.3270 and we have seen no rush to cover this so it suggests fresh selling interest.
Yesterday saw most of the British stocks tumble amid investors waiting a solution of the Greek sovereign debt crisis. UK investors were negatively surprised about the German industrial output data.
US stocks rose again yesterday as investors have been waiting for the outcome of discussion on a financial aid package for Greece.
The EUR/JPY is continuing to recover from 99.00/98.00. The immediate resistance is at 102.55/60, above which the pair should meet 107.85. Supports may be found at 101.12 and at 100.00.
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