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  
Profit-taking after big sell-off

There is a demand for profit-taking in the markets after powerful movements at the end of last week and a very aggressive trading start...

Hot August for currency markets

This August seems hot. Not only temperature but also currency market volatility is rising. The period of active vacations, which is accompanied by a decrease in volumes...

Dollar is close to its important levels

The demand for dollar, provoked by the fears of new US sanctions against a number of countries and expanding trade conflict with China push the American currency close...


Trump raises stakes in the trade war

Two opposite trends prevail in the global markets. Strong reporting of companies, including Apple indicators supports the demand in world...

USD grows on high GDP expectations

The single currency is traded near weekly lows against the dollar, getting under pressure after maintaining the soft tone of the ECB during the regular meeting...

Facebook failure obscured optimism

Yesterday the markets enjoyed a rare portion of good news on international trade. Trump and Juncker agreed not to introduce new tariffs for the period of negotiations...


Trump tosses dollar from highs

The dollar remained under pressure after the Trump's criticism about the strengthening of the national currency. Despite doubts that the influence of the president...

Oil hits 3-month lows

On Monday, the dynamics of oil was in the spotlight on a combination of negative factors by both the potential demand and the supply part. Asian markets...

Fed Monetary Policy Report to be released

This report is release twice a year and provides an insight into the conduct of monetary policy and economic developments and prospects for the future for the...


In the past 24 hours Bitcoin has gained 2.11% and reached $6550.6863123. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.3466% and is now at $1.138. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -3.75% and is now at $313.653623133. 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
1easyMarketseasyMarkets89%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro80%
5FIBO GroupFIBO Group78%
6FXCMFXCM73%
7AvaTradeAvaTrade68%
8HotForexHotForex67%
9Alfa-ForexAlfa-Forex66%
10XMXM66%
  


Share: