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Week in FX Europe May 13-18

The collapse of efforts to form a Greek government this week has reinforced, for many, the bullish outlook for the big dollar. The run-up to Greek parliamentary elections on June 17 will be marked by continued concerns about a disorderly exit from monetary union. The market currently sees contagion fears making inroads with other periphery economies. Moody’s downgraded sixteen Spanish banks by one to three notches and they still have another eleven EU members to vet by next month. The market seems comfortable shorting currencies geared to euro area growth as data is consistently signaling weaker activity in Q2. Expect the latest round of financial stress to further damage business confidence with the core economies.

Below are some other highlights of the week:




ASIA Week in FX



  • Inflation letters and Expectations are released in NZD and GBP
  • CBank statements, announcements and minutes come from JPY and GBP
  • USD, CAD and GBP provide Home and Retail Sales numbers
  • GBP has quarterly growth
  • HSBC Flash manufacturing is delivered by CNY
  • German ifo Business Climate will pique EUR interest
  • USD will finish the week with Durable goods and Claims


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell [5]

Vice-President of Market Analysis at MarketPulse [6]
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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