20.04.2015 - The Greek crisis may lead to parity of euro and the US dollar
The dynamics of the euro and European stock markets continued to be closely related to the Greek debt crisis. Today the head of the ECB, Mario Draghi said that the exit of Greece from the euro zone is not discussed and that the economy of monetary union remains strong, which is associated with positive effects on the program of quantitative easing and lower oil prices. At the same time, the IMF said little progress in the negotiations with Greece, but it was noted earlier that the IMF will not agree to a deferred payment on the loan. Given the risks associated with the Greek crisis and quantitative easing program, we keep the medium-term negative outlook for the euro with the target at 1.00.