More calls for Greek debt relief

17 July, 2015

The ECB has backed the IMF’s call for Greece debt to be written down and they join a growing number of influential voices calling for the same forgiveness, including the US and hard line German finance minister Wolfgang Schäuble. This puts a growing camp at odds with the Eurogroup who worked so hard to put together the bailout deal. Greek Prime Minister Tsipras must be tearing his hair out thinking that had he stuck to his guns and rejected the latest deal then he probably would have got the debt relief he wanted with the number of sympathisers growing by the day. What the latest developments do mean is that we most certainly have not heard the end of this saga as the problem is highly unlikely to go away. Greece’s debt mountain is so high that without any sort of concessions from creditors it is impossible to grow their way out of it. The euro has had a bad weak against the majors, in particular against sterling smashing through the 0.7000 level (or 1.4285 if you prefer GBPEUR) and is trading at 0.6945 (1.4390) this morning.

Today is quite quiet on the economic data front although there are US inflation figures due out which will be closely watched to see if Yellen’s hawkish stance at her two day semi-annual testimony is backed up by rising inflation. CPI is due to rise from 0.0% to 0.1%. After that there’s the Michigan Consumer Sentiment also expected to rise from 96.1 to 97.0.


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: