Greek Lawmakers Approve Austerity Measures

Various currencies, such as the euro and British pound, saw upward movement in response to the positive news released from Athens this morning. During a late-night meeting, Greek lawmakers approved a new round of austerity measures that encouraged euro-zone countries that Greece is making its best effort to stave off defaulting on its debt. After a series of steps that failed to meet budget targets, many in the euro-zone are hoping that this round of austerity measures will result in Greece receiving a much needed bailout package.

Greek News Likely to Impact Markets This Week

The euro took a strongly bearish turn to close out last week, after hitting a two month high against the dollar on Thursday. The downward correction was largely attributed to fresh concerns that Greece may not get a sorely needed bailout it needs to avoid defaulting on its debt. Greek news is once again likely to dominate market sentiment this week. Traders will want to pay particular attention to a meeting on Wednesday of euro-zone finance ministers. Any announcements regarding Greece following the meeting could lead to major market volatility.

Forex Blog by FOREXYARD

Price of Crude Oil On the Rise

After a brief dip in value last week, the price of crude oil rose back up this morning. Fears regarding the possibility of Greek austerity measures not being passed drove prices down toward the end of last week. With the news of fresh measures being approved by the Greek parliament last night, crude oil has steadily gone up in value. Since the news broke this morning, oil has gained 94 cents to $99.61 a barrel.

Current Time: 02/13 21:31 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
02/13
	21:45	NZD	FPI	m/m	0.2%	-	-
	21:45	AUD	RBA Assistant Gov Debelle Speaks		*	*	*
02/14
	00:01	GBP	RICS House Price Balance		-16%	-	-
	00:30	AUD	NAB Business Confidence		3	-	-
	04:30	JPY	Revised Industrial Production	m/m	4.0%	-	-