News Headline Summary

Germany's finance minister Schaeuble says there is no agreement among euro zone finance ministers on Greece, we will meet again on Monday

- Luxembourg finance minister says no Greece decision tonight, will continue Monday.

Reaction details (21:45)

- EUR/USD fell 33pips from 1.2818 to 1.2785 following this headline.
- We have now moved lower by 47 pips in EUR/USD since the German finance minister's comment.
- USD index moves to fresh session highs +0.23%.

Analysis details (21:48)

- This announcement has prompted a risk off move across asset classes.
- Ministers had extended discussions on potential options for Greece but reached no agreement, deciding to instead kick the can down the road once again.
- Finance ministers expect to reach an agreement at their next meeting on Monday 26th November.

20 Nov 2012 - 21:34 - Forex - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: