SaxoTV

Hardy: Market is underestimating the strength of Greece's position

835 views
January 26, 2015 chf, chfeur, dollar, dollar index, dollar outlook, dollar rise, dollar strength, dollar trading, ecb, ecb action, ecb meeting, ecb news, ecb policy, eur, eur usd, eurchf, euro, euro area, euro crisis, euro dollar, euro zone, eurocrisis, eurodollar, europa, europe, european, european central bank, european economy, european recovery, european union, eurozone, eurozone crisis, eurozone economy, eurusd, fed, fed meeting, fed policy, federal, federal government, federal policy meeting, federal reserve, federalreserve, fomc, fomc meeting, fomc preview, fomcmeeting, fomcminutes, fomcstatement, foreign exchange, forex, forex buying, forex idea, forex market, forex markets, forex trading, fx, fx crosses, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trading, fx volatility, fxmarkets, greece, greece debt crisis, greek, greek bailout, greek crisis, greek election, greekdebt, greexit, imf, imf eurozone, saxo, saxo bank, saxo tv, saxotv, swiss, swiss franc, swiss national bank, switzerland, trading, tradingfloor, tradingfloor.com, troika
Despite the uncertainty following the the Greek election, Saxo's John Hardy says the market has so far been taking the result in its stride. Hardy looks at EURUSD and EURCHF.

Hardy also warns that he thinks the market is underestimating the strength of Greece's position. Although the Troika is the big beast, Greece has an upper hand purely because it owes 240 billion euros. Hardy says it will take some time to reach a deal on what happens next.

Meanwhile, eyes are turning to this week's FOMC meeting. Hardy says it will be interesting given that December's was more hawkish than the market was expecting. Will the FED stay the course or will it blink, he asks. He believes the risk is more to the hawkish side.