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#1 02-01-2015 14:32:39

ForexBrokerInc
Member
Registered: 26-02-2013
Posts: 83

Market Comment-By ForexBrokerInc

Euro plunged as far as 1.2035 at the opening of the first European session in 2015.

The president of ECB Mario Draghi said the risk of the central bank not fulfilling its mandate of preserving price stability was higher now than 6 months ago, and confirmed readiness to act early this year should it become necessary. He also urged politicians to implement necessary reforms and reduce tax burdens to support the Eurozone recovery that is “fragile and uneven”.

According to IMF COFER data publish recently, the Euro share of global reserves dropped by 1.5 points to 22.6% indicating one of the largest quarterly declines in the share ever. If this trend continues, there may be potential for a faster move lower in the Euro in early 2015. Investors continue to watch developments in Greece, where parliament was formally dissolved on Wednesday after Prime Minister Antonis Samaras failed to become a head of state, casting the country’s international bailout into doubt. Parliamentary elections were set for January 25, almost a year and a half before the current coalition’s term was due to end.

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