Greece day of reckoning

22 June, 2015

The ECB stepped in once again to help prop up Greek banks last Friday with an exceptional round of Emergency Liquidity Assistance funding as a record amount of euros were withdrawn from the Greek banking system. This may not however be enough to stem the exodus as today’s crunch summit gets underway to try and end the impasse. It is estimated that not much over €100 billion is deposited in Greek banks, well under half of what they were at the height of the banking crisis seven years ago and without a deal today we can expect that to fall below €100 billion rapidly, as it will call into question whether the ECB is willing to continue to assist with further ELA. The ECB has kept the ELA for Greece for as long as negotiations have been on going, but no deal today could mark the beginning of the end and the imposition of capital controls.

One thing you cannot fault is the political resolve to see a deal done, without which Greece would have been given its marching orders long ago. This optimism is giving investors an excuse to buy risk assets this morning with a strong bounce in European equities, in particular the German Dax up over 2.5%, meanwhile the euro is holding up well with EURUSD at 1.1385.


Source link  
Crude's Collapse Is Sending Shockwaves

Investors have gone from contemplating the prospect of oil at $100 to sub-$50 in less than two months. No wonder global markets are playing catch-up....

Dollar growth pushed down stock indices

Monday was a hard day for the financial markets. American DJI lost more than 2.3% and S&P500 decreased by 2.0%. As in previous weeks, the main pressure...

U.S. stocks recover after elections

Preliminary estimates of the U.S. election results support a positive mood on the world markets, reducing the demand for protective assets and causing...


Cautious mood has returned to stocks

American markets ended trading on Wednesday with a slight increase. Asian bourses also experienced growth at the opening, but it was quickly...

Emerging markets rebound seems over

Asian markets have turned to a decline with a renewed force. After the rebound of last week, the index MSCI Asia ex Japan loses 1.2% and is only...

Rebound in Asian markets intensifies

On Friday morning, the demand for risks on the Asian bourses continues to recover. MSCI for Asia ex Japan is adding more than 1.2% this morning, having...


Reasons to rebound EM indices

Asian markets are adding after reaching 14-month lows the day before. Positive markets are supported by the reports about China's invitation to trade...

Strong data supports U.S. markets

Stocks of the Emerging Markets remain under pressure on Wednesday morning, with positive sentiments prevailing in American markets following...

Pound press dollar on news about Brexit

Michael Barnier, the EU's top negotiator on Brexit, called a reaching of the agreement on the deal within next 6-8 weeks realistic. This news supported...


In the past 24 hours Bitcoin has lost -9.14% and reached $4456.98719792. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.1164% and is now at $1.13. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -36.03% and is now at $132.114342338. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM86%
4Alfa-ForexAlfa-Forex85%
5FxProFxPro84%
6FIBO GroupFIBO Group83%
7OctaFXOctaFX82%
8HotForexHotForex80%
9FXCMFXCM78%
10AvaTradeAvaTrade76%
  


Share: