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Greece'S CDS Problem Is Properly Resolved &Nbsp; Euro Soaring

2012/3/20 17:23:00 17

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Douglas Borthwick, managing director of Faros Trading, said: "Greece's CDS problem has been properly solved and is in line with expectations, so there will be no default in Greece.

Some of the euro's short positions were displaced because the reasons for holding these positions failed to materialize.

In addition, the euro dollar base exchange will continue to stabilize.

Euro

The US dollar rose 0.5% to 1.3241 against the US dollar, hitting 1.3265 highs, which was the highest in March 9th. The euro and Japanese yen rose 0.4% to 110.36, after 110.58, the highest at the end of October last year, and the US dollar fell to 83.34 against the yen.

The euro rose third days against the dollar, rising 1.7%, the biggest three gain since mid January.

The euro rose to a recent high of 1.3187 and 1.3192 and triggered a stop loss near 1.3200.

Borthwick anticipation of euro exchange

dollar

It will further rise, and the fair value is expected to be 1.37-1.40.

Investors focus on the short positions of the euro.

Greece

Credit default swap (CDS) auction.

The auction results will be Greece CDS holders will receive a total of about 3 billion 200 million euros, equivalent to 1 euros, Greek bonds will receive 0.215 euros, in line with market expectations.

Some analysts said that the situation could be worse. If CDS was to restructure the new debt in other ways, or raise the interest rate or shorten the period, the payment to the holders would be much lower.

Despite the easing of tensions with euro zone debt, speculators still hold short positions in the euro, although the number of positions has decreased, and the yen bears are at their highest level since April.

"The situation in Europe is already well known, and the situation of China's economic landing is increasingly clear, which makes the market able to focus on the fundamentals of the United States," said Stephen Wood, chief marketing strategist at Russell Investments in New York.

New York Fed chairman Dudley (William Dudley) said on Monday morning that despite the positive signs of growth in the US economy, it is too early to assert that the US economy is out of the woods.

In terms of economic data, the American real estate builder Association and Wells Fargo jointly announced that the sentiment index of American real estate builders is still at its highest level in 5 years, which is the first in many real estate market economic data this week.

In addition, Federal Reserve Chairman Bernanke will deliver three speeches this week, including the opening speech of the Central Bank of the Federal Reserve on Friday.