Forex Trading Live Update, Thursday 14th June

by Joe Oliver, Forex Trading-Pips

Euro currency is currently trading range bound ahead of Greek election results due out this weekend.  According to recent reports out from Dow Jones  News customer withdrawals from Greek banks have been rising at a worrying pace ahead of the polls.

On Wednesday Moody’s slashed it’s rating on Spain by 3 notches to Baa3 and said that it was reviewing it’s ratings for possible further downgrades. Egan-Jones also cut Spain’s rating to CCC+. Spanish yields continue to trade near record levels at 6.75 percent on Wednesday following the announcements.

Large speculators, including hedge funds, are currently holding record short positions in the euro currency according to data released last week by the CTFC.

EUR 60 minute bars

EUR 60 minute bars