[B]Intra-day Market Moving News and Views
07 May 2015 [/B] [I]02:07GMT[/I]
[B]EUR/USD[/B] - .......EU officials say Athens needs to make concessions so the Eurogroup can at least register significant progress on Monday, possibly enabling the ECB to let Greek banks buy more short-term gov't debt.
But Thomas Wieser, head of the Eurogroup Working Group which prepares decisions for the ministers, told CNBC late on Tuesday there were still outstanding issues in areas ranging from tax to labour market reform.
While Reuters reported many issues remain unsolved between Greece and its lenders and agreement at next Mon’s Eurogroup meeting of euro zone FinMins is now not possible, Eurogroup chair Jeroen Dijsselbloem said.
Dijsselbloem was speaking after talks in Paris on Wed with French FinMin Michel Sapin, who also acknowledged to reporters that no deal was imminent.
Last night the single currency stabilised after intra-day rally to as high as 1.1370 on dollar’s broad-based weakness after the release of less-than-expected ADP employment data.
Bids was located at 1.1320-10 with mixture of bids and stops seen at 1.1300. On the upside, offers was tipped at 1.1370-80 and more at 1.1400.
[B]Thursday[/B] will see the release of Australia unemployment, Japan services PMI, Germany factory orders, France exports, imports, trade balance, U.S. jobless claims and Canada building permits.