Tag Archives: Greece
Greece: Government wins vote, focus on July 3rd
Following the Greek government’s victory in this evening’s confidence vote we expect the necessary fiscal and privatisation laws to be passed on June 30. But, before the July disbursement of EU/IMF funds can be made, the EU has to come up concrete assurances on financing for the next 12 months to fill the funding gap […]
Economic briefing: Greece – the next poker rounds
The negotiations about a new aid programme for Greece are entering the crucial phase. We have listed below the most important dates that could move the financial markets.
Daily Currency Briefing: Couldn’t they or didn’t they want to?
G10 Currencies EUR-USD: It finally arrived at 2.00 am (CET): the statement published by the European Finance Ministers relating to their meeting in Luxembourg (which started a day earlier). Those who had thought that following the approaches between Angela Merkel and Nicolas Sarkozy on the involvement of private bond holders everything would be quite quick […]
European Sunrise – Defining moments for Greece
Following the general Merkel-Sarkozy agreement on Friday, the Eurogroup delayed the decision about details on the new bailout package for Greece until early July. This shifts the focus back to the political developments in Greece, in particular the no-confidence vote in the parliament tomorrow.
Daily Currency Briefing: High stakes poker
G10 Currencies EUR-USD: The sell-out in EUR-USD which started yesterday morning did not continue nor did we see a stronger recovery. In the end this reflects the protracted stalemate in connection with the aid package for Greece.
Daily Forex Outlook: The Greece situation
EUR USD (1.4170) The euro suffered its largest fall in more than a month yesterday as eurozone leaders failed to come to an agreement on the shared costs of a new Greek bailout.
Daily Currency Briefing: Can Greece still be saved?
G10 Currencies EUR: The euro’s small recovery seen on the Asian markets came to an abrupt end this morning. EUR-USD collapsed from levels close to 1.42 to 1.4091. Hardly surprising.
European Sunrise – (Global) risk off!
Global risk off mood has taken hold again with US macro fears joining the Greek bailout II drama. Concerns about the handling of private sector involvement and the timing have intensified. Political instability in Greece adds to the unease.
FX DAILY STRATEGY Asia – 14 June 2011
Chinese inflation may come in higher than expectations, but IP will be important in indicating a slowdown We still like short EURCHF as the divergence of opinions over Greece lingers on US retail sales will likely reaffirm slowdown in economy
European FX Daily – Chinese growth better than expected in May
– Antipodeans lead modest rally vs USD, Asian equities up 0.4-1.1% – Chinese production and investment robust in May, inflation rose to 5.5%yoy – US retail sales likely to be weak
European Sunrise – No calm before the storm
The hardened positions between the ECB and the German government about the private sector involvement in a rescue deal for Greece favours a risk off bias which supports Bunds, even though the ECB will continue to hike rates next month.
Daily Currency Briefing: Uncertainty beats credibility
G10 Currencies EUR: Why did the euro ease following the ECB press conference despite the fact that Jean-Claude Trichet gave a de-facto announcement of a rate rise in July?