Forex - Euro steady as investors await more Greece talks on Thursday

Investing.com - The euro was steady in early Asia on Thursday as investors awaited another day of meetings ahead to see what the outcome is for Greece's debt talks.

EUR/USD traded at 1.1204, up 0.01%, while AUD/USD chnaged hands at 0.7708, up 0.07%. USD/JPY traded at 123.85, flat, with no major data releases scheduled in the region on Thursday.

Eurozone finance ministers ended their Wednesday meeting early as no real progress was made between Greece and its creditors ahead of the Eurogroup.

Finland's Finance Minister Alex Stubb, "that is it for tonight."

"The Eurogroup will continue again on Thursday at 13:00 CET," Stubb wrote on his Twitter (NYSE:TWTR) account.

European Commission President Jean-Claude Juncker has called another meeting with Greek Prime Minister Alexis Tsipras on Wednesday evening in Europe. The heads of the creditors, the Economy Commissioners as well as Eurogroup President Jeroen Dijsselbloem are also invited to participate.

The meeting is seen as another effort on behalf of the commission to bridge the gaps between the two sides that revolve around pensions and taxes.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 95.44, down 0.01%.

Overnight, the dollar held steady against a basket of other major currencies on Wednesday, after data showed that the U.S. economy contracted less than initially estimated in the first quarter, while investors continued to focus on Greek debt talks.

The Commerce Department reported on Wednesday that gross domestic product contracted at a rate of 0.2% in the three months ending March 31, in line with expectations and compared to a previous estimate of a 0.7% contraction.

Market sentiment was hit after a Greek government official said Prime Minister Alexis Tsipras told associates that some of Greece's latest proposed reform measures had not been accepted by creditors.

The remarks came as Tsipras departed for Brussels to meet with the heads of the European Commission, the European Central Bank and the International Monetary Fund.

Earlier Wednesday, Greece's economy minister, George Stathakis, said "two or three" areas still needed to be addressed, but added that he was confident a deal would be reached by the time EU leaders meet on Thursday.

Greece has to repay € 1.6 billion to the IMF on June 30 or face going into default, which could trigger the country’s exit from the euro area.