FOREX TRADING

The dominant force in the financial markets yesterday was the announcement that Greece had reached a tri-partisan political agreement on the austerity measures that now finally reach the level required by the troika to enable the delivery of the second Greek bailout programme. The EUR130 billion, however, will not likely

Greece leaders Thursday agreed a deal on reforms and austerity measures in return for a 130 billion euro bailout from international lenders which will help the country to avoid a messy default. ‘The financial survival of the country in the coming years depends on the new program It is

It is another day in the Greek farce with European finance ministers now withholding aid until the beleaguered country agrees to and implements austrerity measures. Meanwhile data from the UK and US should be enough to keep us going today.

EUR/USD reached new highs above 1.33 as Greek politicians reached an agreement on austerity measures. However, the rebound of the euro was capped as the Eurogoup failed to rubberstamp the Greek agreement. EUR/GBP is holding close to the 0.8422 resistance as the BoE raised the programme of asset purchases.

It seems that finally Greece has completed an austerity package so that the country can receive a further rescue package in the amount about EUR 130bn. The immediate reaction in the market was slightly positive, but as stated before, a positive result has to a great extent been discounted, and

It seems Greek deities have passed their immortality on to Greek deadlines. Officials in Athens finally managed to agree on economic reforms just as Asian markets got underway. However, hopes for a drama-less ending in the current chapter of the Greek debt tragedy were quickly dashed by demands from a

The euro produced moderate gains against its major counterparts after Greek political leaders reached an agreement on additional fiscal reforms. Lawmakers will vote on these measures over the weekend and all eyes now to turn to Greece’s parallel negotiations with the Institute of International Finance (IIF). The institution is representing

At the Eurogroup meeting last night the euro area finance ministers set three conditions that need to be fulfilled before the ministers will approve the second rescue package to Greece: Parliament approval of policy package (vote set for Sunday), Additional EUR325m in structural reduction of deficit to be detailed before

This week has come to an end, and now we see that the sentiment improved and optimism spread in the market after the Bank of England and the European Central Bank rate decisions yesterday met market expectations and helped positivity to remain evident in the market, supported by Draghi’s comments,

After initial optimism that Greece’s political parties had finally reached an agreement on austerity measures yesterday, Eurogroup members subsequently rejected the proposals late in the evening, and demanded Greek Finance Minister Venizelos return to Athens to procure deeper cuts. It appears that EU policymakers are not yet willing to sign

The Greek government comes under mounting pressure after reaching a deal with political party leaders, as euro area finance ministers asked for Parliamentary consent and further austerity measures to grant Greece a second bailout worth 130 billion euros.

The USD edged lower yesterday as risk sentiment remain well supported following news that Greek party leaders had agreed on the terms of the second bailout. But with the Eurogroup failing to approve the Greek deal, USD edged higher overnight. Today’s US trade numbers and U. of Michigan confidence indicator

Lack of a bailout agreement for Greece weighed heavily on markets today, on top of a large trade surplus and shrinking imports/exports from China in January. With a trade surplus of $27.3B, it was a 6 month high. Imports fell 15.3% much lower than expected and down from the increase

The RBA cut its growth and inflation forecasts for 2012 as uncertainty surrounding economic conditions offshore flow into the domestic economy. On Tuesday, the bank decided to keep interest rates at 4.25%, surprising a market that was looking for a 0.25% cut, however this recent report is more dovish than

The Bank of England’s announcement to increase QE by £50bn was was widely anticipated. However, the change in maturity of purchases led to a marked shift in markets and the tone of the statement seemed to suggest that the policy debate had now reached a more finely balanced phase, partly