Currencies

Germany may agree to delay Greek restructuring – news that boosted Wall Street despite more weak US data. Dow up 128.

Market analysts at FXCM suggest the technical picture is for further gains in the Australian dollar against the greenback, with strength into the US108-109c range expected over the next week.

On a quiet night across the globe with New York and London shut, newspapers speculated on the latest in the Greek tragedy.

Market analysts at FXCM suggest the british pound is poised to decline as the chances for an interest rate increase by the Bank of England fade.

Market analysts at FXCM note the US dollar had its worst weekly performance in a month last week and suggest investors continue to watch equity markets and talk on the end of QE2 for directions.

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

Wall Street recovered to a positive close after a weak GDP result sparked early selling. Dow up 8.

Commonwealth Bank analysts fear ECB resistance to Greek restructuring will mean more euro weakness ahead of any resolution. Australian stocks are indirectly exposed.

Goldman Sachs’ call was still resonating last night as oil and metals continued their rally. Dow up 35.

Oil price upgrades from both Goldman Sachs and Morgan Stanley were about the only highlight in an otherwise choppy session. Dow down 25.