The Euro is trading at 1.1028 at the moment.  The low has been 1.0968 while the high has traded at 1.1095.  The Greek debt situation took another interesting turn with a ‘NO’ vote cast by 61% of the Greek voters.  This was a resounding majority that the current government has backing their desire to renegotiate a new package of reforms that would allow Greece some breathing room from the past crippling austerity measures their economy has been under.  The threat that such a no vote would push Greece closer to an exit from the EU is very real as neither side seems willing to try to find a compromise.  Greek Prime Minister Tsipras believes he has better leverage to negotiate a more progressive package of reforms for the debt stricken country.  Earlier today, German Factory Orders were lower than expected registering -0.2%.  European Retail Sales was lower than the previous month registering 50.4 while European Sentix Investor Confidence was better than expected recording 18.5.  The Euro is still a bit soft with risk weighted towards the downside as a result of the Referendum outcome.  We shall see what the results encourage with the Euro finding a bit of support following the resignation of Greek Finance Minister Varoufakis.  One thing is certain, there is still more paint to come before things improve.

The British Pound is trading at 1.5563 currently.  Sterling has traded as low as 1.5529 while the high has been 1.5597.  The Pound is softer today as a result of the Greek referendum which returned a 61% majority ‘NO’ vote.  Like the Euro, Sterling was immediately under pressure once confirmation of the results went out.  There was a bit of support following the resignation of the Grecian finance Minister Varoufakis.  However, there is likely to be more downside pressure once the NY session begins as investors await the next event in the drawn out saga.  Additionally, UK Housing Equity withdrawal numbers were lower than expected recording -13.0 billion Pounds. This data did little to help support the Pound and vulnerability remains on the downside.  Looking ahead, the Bank of England will make a rate announcement on Thursday with rates expected to remain unchanged.

The Japanese Yen is trading at 122.75 presently.  USD/JPY has traded as low as 121.85 while the high has been 122.93.  The US Dollar has gained versus the Yen once the results of the Greek referendum were confirmed.  As a flight to safety, the Dollar was able to find support to enable it to rally to its high of the day before easing back to current levels.  Additionally, Japanese Leading Indicators met expectations registering 106.2%.  This data did little to slow the progress of the advancing US Dollar today.  With the Greek debt saga far from over, the Dollar has a good chance of advancing even further as with the US economy showing signs of continued consistent growth.

AUD/USD is trading at 0.7498 with the low being 0.7462 and the high being 0.7521.

USD/CAD is trading at 1.2630 with the low trading at 1.2562 and the high trading at 1.2643.


This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.