(Dow Jones via eFXnews) EUR/USD - to consolidate with bullish bias after hitting 8-week high of 1.3270 yesterday. Supported by increased hopes that loan deal between Greece and international creditors is near after reports Athens was drafting a bailout agreement, although yesterday's deadline was missed and a meeting with Greek political leaders to approve austerity measures was pushed to today; Wall Street Journal report that the ECB is willing to exchange Greek government bonds it purchased last year at prices below face value with the EFSF bailout fund - provided the talks now underway over a new bailout for Greece and a restructuring of its private debts find a successful outcome - and the EFSF would then retire the debt as part of a debt restructuring program to reduce Greece's overall debt burden. But EUR/USD gains tempered by fears that Greece may yet default on its debt as final agreement between Greek political parties on austerity measures is not yet sealed; surprise 2.9% monthly fall in Germany's December industrial production (vs forecast for 0.2% increase).
Data focus: 0700 GMT Germany December trade balance & manufacturing turnover.
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The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
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