IMFs red pen

25 June, 2015

Risk assets had their shine taken off them after investors were given a stark reminder that a deal is yet to be done and Greece’s proposals from last Sunday are subject to considerable scrutiny. The IMF had the red pen out yesterday as it made its amends to much of the pension reforms put forward and the knock back has led to further strong language from the Greek prime minister, a reaction that is unlikely to improve relations with the country’s creditors and a risky stance to take at such a critical stage of negotiations. The single currency however is still holding its ground after a sell off yesterday saw it dip back below the 1.1200 level and this morning it is trading at 1.1190. All eyes will remain on Europe as time runs out ahead of next Tuesday’s payment deadline to the IMF, which without an agreement that is ratified by the Greek parliament would see the country renege on the €1.6 billion owed.

Today sees more US data which could move the dollar with the usual weekly jobless numbers and at the same time personal income and spending data, a key measure watched by the Fed, with both expected to increase from last month. There’s also the Market services PMI which is not such a major market mover, but is expected to rise as well from 56.2 to 56.7.


Source link  
Markets pressured by Huawei problem

Alphabet and some other American IT companies have suspended business with Huawei, which is one of the first examples of major consequences for...

The climate is changing rapidly

British people need to fly less, drive electric cars, eat little meat and turn their home thermostats down to 19 degrees Celsius (66 Fahrenheit) in order to rein...

Chinese stocks saw their worst week

Chinese stocks have taken investors on a ride this year. Shanghai and Shenzhen have been the best performing global markets this year, with the Shanghai...


Risk-sensitive currencies on the rise

Stock markets show growth after the release of strong data for China and Japan as their respective PMIs were better than expected which supported...

Trump again puts pressure on OPEC

President Donald Trump told OPEC on Thursday that its members should start pumping more oil, marking his second warning to the producer group this year...

Turkish lira fell by 5% before elections

The Turkish lira dropped by as much as 5 percent against the dollar on Thursday morning, as the country gears up for elections this weekend. The greenback...


May won't ask for a long Brexit delay

Prime Minister Theresa May won't ask the European Union for a 'long' delay to the Brexit deadline, her office said, after pro-Brexit ministers objected...

Demand for safe assets grows

Markets remain under moderate pressure, despite the Fed comments. Powell's semi-annual speech in Congress reinforced expectations that the US Central Bank...

US-China trade talks: deadline postponed

China's blue-chip index jumped more than 6% on Monday morning on news that Trump would postpone of the tariff's introduction. The U.S. President...

  


Share it on:   or