Greece Concerns Burden Euro
euro

Burden of the Greece debt kept the euro loaded with pressure and resulted in a dip from the 17-months peak for the global shares. This decline posted on Friday was due to timid earnings and the elevating dollar. Dollar’s strength over the Euro and other currencies as well, made the oil nose dive the deepest of the six months and the lower crude oil costing was reflect on energy shares in Europe and US.

Looking for the results of the European Union Summit scheduled for next week, the anticipation of the of the traders to know about the Greece’s decision of opting for the Euro zone aid consequently ended up the currency posting a nasty weekly performance against the dollar since late January.

Michael Woolfolk, Senior Currency Strategist at BNY Mellon opined that the increasing stress over the Greece concerns is raising the uncertainty and therefore is disheartening the Euro.

Nasdaq Composite Index .IXIC in US equity declined 0.71% to 2,374.41. The Dow Jones industrial DJI on an average dipped 0.35% to 10,741.98 while the Standard & Poor's 500 Index SPX dropped 0.51% to 1,159.90.

A survey stated that the number of individual optimistic investors decreased 10% points to 35.4% most recent week and Bearish calls elevated to 4.6% points to 29.9%.

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