ECB tightens noose

July 7, 2015

Capital controls are unlikely to be lifted for some time unless a deal can be agreed upon in the next day or so. The ECB has tightened up collateral rules for Greek banks to access its ELA and Merkel and Hollande made it clear yesterday that it is now up to Greece to come forward with new proposals since previous ones are redundant, regardless that last week end’s referendum was a question relating to the last deal on the table before the latest bailout expired. Today’s summit will put Greece and its creditors at loggerheads making it difficult to secure a third bailout, meanwhile in the background work is being done to prepare for a Grexit, the chances of which have dramatically risen in the last 48 hours.

Talk is of 20th July being the next big deadline for Greece when €3.5b is due back to the ECB, but at this rate things could be over well before then. Even before talks have recommenced, the Eurogroup has made it clear that they expect Greece to initiate discussions with a new reform package, hardly what one would consider as an olive branch. Any new measures put forward by Greece will include debt forgiveness, a red line for creditors, so if that red line remains in place then a deal is highly unlikely and the exit door will be swung wide open.

Publication source
FxPro information  FxPro reviews

January 23, 2017
Japanese Yen is taking the heat
Looking at the daily chart of the Japanese Yen, we can see that the bullish engulfing has formed next to the 50% Fibonacci level, which has been broken on the weekly chart at the points of 125.853 and 98.935...
January 23, 2017
Main Macro Events This Week
President Trump has his feet under the desk in the Oval office and the tone of his inaugural speech and actions over the weekend reiterated his campaign themes to Make America Great Again...
January 23, 2017
UK stocks start the week on the back foot
The FTSE100 is under some selling pressure this morning and trading lower by around 40 points. The leading UK stock index posted its first weekly loss in over a month on Friday and has continued lower out the gate today. The pound is broadly higher on the day and has moved back above the 1.24 handle against the US dollar...

NPBFX Rating
Grand Capital Rating
FBS Rating
OctaFX Rating
FXCM Rating
Vantage FX Rating

Migesco Rating
OptionTrade Rating
Porter Finance Rating
Binary.com Rating
Anyoption Rating
IQ Option Rating