The hopes of seeing an agreement between the representatives of the European Union and the Greek Government are growing slimmer every day. On Sunday, negotiations were broken off after only 45 minutes, with a "significant gap" still between the parties. Observers seem to think that the June 18 meeting of European finance ministers could become a pivotal one regarding Greece's future within the EU. This morning European stock markets and the euro are falling, whereas the U.S. dollar -- a safe-haven currency -- is rising against major currencies. Last Friday, the University of Michigan Consumer Sentiment Index came in at 94.7, a figure that was sharply higher than the forecast of 90.7. This result is consistent with the strong results recorded for Retail Sales on the previous day. Today we will be monitoring USD Industrial Production figures for May, with pundits expecting a rebound after a disappointing April result. Have a good day!
- Range of the day: 1.2300 - 1.2400
Julien Duquette