Is political will going to save Greece?

26 June, 2015

Another day passes with no deal on Greece and investors are likely to want to position themselves for negotiations to go on into the weekend by reducing exposure to risk assets. Indices are a little softer on the open and the euro is offered as we see yet another classic situation when it comes to the Eurozone with things going down to the wire. Investors however remain optimistic that a deal will be struck ahead of next week’s IMF payment deadline throwing Greece yet another lifeline.

If the expected deal does come over the weekend then investors will not be able to react until Monday and there could be disappointment if Greece is afforded just the extension to its existing bailout which will only fund the country through the summer. The political will that has so far kept the Eurozone intact is being tested more than it has ever been before and is likely to be further. It’s just a question of whether politicians and in particular Greece’s creditors have the staying power.


Source link  
U.S. Government Shuts Down

The U.S. government shutdown over the weekend as the Senate failed to pass a bill to keep the funds flowing late on Friday. The Democrats are making...

USD Index Retesting Significant Lows

The Economic calendar for today is very light, with main events in focus for the European trading session concentrating around German PPI...

Economic calendar is relatively light

Today is Martin Luther King’s Birthday, which is a Bank Holiday in the United States. As a result, the Economic Calendar is relatively light today...


US Tax Bill passes

On Wednesday, the US Senate approved the tax bill 51 for and 48 against, while the House of Representatives gave it final approval, passing it for the second time in two days after...

US dollar 'treading water'

USD is treading water ahead of the expected enactment of President Trump’s tax bill. The initial euphoria of lower corporation tax, that many...

CB Monetary Policy Unchanged

Thursday saw the latest Monetary Policy Committee (MPC) report from the Bank of England. The BoE stated that further modest increases...


No Surprises as Fed Raises Rates

The Federal Reserve, as expected, raised its benchmark interest rate by a quarter of a percentage point, to a range of 1.25% to 1.5%. The latest hike...

CB meetings dominate the week

With no impactful economic data releases on the calendar today, the markets are focusing on a plethora of Central Bank meetings scheduled...

No Surprises from BoC & ADP

In an unsurprising move, the Bank of Canada decided to hold its benchmark lending rate at 1%, after two small hikes earlier in 2017. The BoC stated...

  


Share: