ECB tightens noose

7 July, 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.


Source link  
Chances of RBA Rate Hike

NZDUSD bucked the trend overnight, as most other currencies managed to retrace some of their declines against the USD. The pair hit fresh...

Consumer Sentiment Index Close to Higher

US Fed Boston President Rosengren is due to deliver the keynote speech on the economic outlook, at the Greater Boston Chamber’s Economic Outlook Breakfast...

Chinese president soothes worries

With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers...


Markets fall after more tariffs proposal

Friday's session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B...

Korea gets exemption on steel tariffs

The US and South Korea have reached agreement on a Trade deal that comes with the added bonus for South Korea of a permanent exemption from...

EU Publishes List of Tariffs on US Goods

Over the weekend, the EU published a list of tariffs on US products in response to the US tariffs on Steel and Aluminium. The total value of EU tariffs...


Consumer Price Index and Housing Starts

Eurozone Consumer Price Index – Core (YoY) (Feb) will be released. The consensus points to an unchanged value of 1%. Consumer Price Index...

USD Weakens as Risk-Off Returns

Yesterday, the US announced Tariffs on Steel and Aluminium, which prompted an outcry from various global leaders and an acceleration in the...

Volume of data put US in focus

US Gross Domestic Product Annualized (Q4) was as expected at 2.5%, from 2.6% previously. Gross Domestic Product Price Index (Q4) was 2.3%...


In the past 24 hours Bitcoin has gained 5.66% and reached $9400.46. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.3555% and is now at $1.2212. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 38.32% and is now at $705.552. 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%
3HYCMHYCM85%
4FxProFxPro84%
5FIBO GroupFIBO Group82%
6FXCMFXCM70%
7XMXM68%
8Fort Financial ServicesFort Financial Services67%
9Alfa-ForexAlfa-Forex66%
10HotForexHotForex66%
  


Share: