Week in FX Europe – Public Spat has Single Unit Close to the Rail

ECB members are throwing cold water on taking a haircut on Greek debt-declaring it forbidden under the Central Bank Treaty. The public spat seems to be intensifying amongst EU heads about what to do with Greek debt ahead of the Euro-officials meeting next Tuesday November 20. There is an increasing call for the public debt holders to take a ‘haircut’ on Greek assets. The single unit has been held hostage, within a tight range, on whether Spain ‘will or wont’ ask for aid.

The squabbling on how to make the Greek debt manageable is holding up the next tranche of +EUR31b in emergency loans that Greece so desperately needs. The IMF chief is currently enroute to the Euro-group meeting in Brussels, cutting short her Asian stay. Lagarde states that it’s not over until the “fat lady sings”-let’s hope she was not getting personal.



  • JPY Bank of Japan Rate Decision
  • AUD Reserve Bank Board Minutes
  • GBP Bank of England Minutes
  • USD U. of Michigan Confidence
  • CAD Consumer Price Index
  • EUR Euro-Zone Gross Domestic Product
  • USD Consumer Price Index

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
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