Daily Note – Greece Again

Greece againSummary:

Brits worried about stability!

Greece and the Euro

Eurozone: April PMI’s disappoint

United States: Data continues to slowly improve

Good morning,

I am back in Dublin after a great, short trip to clients in the UK which was fascinating, not least because it’s easy to forget that the British have been blessed with extraordinary stable politics for a very long time.

Now faced with nationalism and coalitions and horse-trading, investors worry that the UK will undergo a period political instability, which will impact on the currency. This may well be true but I don’t suspect that it will last long.

However, what about the Euro and Greece? Are we all being too sanguine about the risks on the upside and the downside?

For example, would a solution on Greece lead to big gains in EUR/USD?

It’s probably sensible to break it down into two simple parts.

 

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Global Macro-Daily Note 24th April 2015

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