News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Real Time News
  • US Treasury Sec. Yellen: - Congress should act to lift the debt ceiling as quickly as possible - We cannot allow any chance of the government defaulting on its debt
  • US Treasury Sec. Yellen: - Defaulting on the national debt is "unthinkable" - It would be catastrophic for the US to default, that would likely precipitate a crisis
  • US Treasury Sec. Yellen: - The Fed's IOER adjustment was purely technical - According to the Fed, the stance of monetary policy has not changed
  • US Treasury Sec. Yellen: - Inflation estimates for next year are consistent, hovering around 2%
  • US Treasury Sec. Yellen: - The majority of inflation expectation indicators are still stable - Inflation will return to normal levels after this year
  • US Treasury Sec. Yellen: - I believe current inflation patterns are temporary due to supply chain bottlenecks - It will be a bumpy road to reopening, but the economy is on a good track
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.59% Gold: 0.05% Oil - US Crude: -0.12% View the performance of all markets via
  • US Treasury Sec. Yellen: Raising the corporate tax rate would land the US in the middle of its peers
  • US Senator Schumer: - We are moving forward on multiple infrastructure proposals - I will meet with White House officials later along with Speaker of the House Nancy Pelosi
  • US Treasury Sec. Yellen: I hope to get approval from G20 for a worldwide tax reform plan
Euro Rises Despite Uncertainty Over Next Greece Bailout Payment

Euro Rises Despite Uncertainty Over Next Greece Bailout Payment

Benjamin Spier, Technical Strategist

EUROPEAN SESSION UPDATE: Troika statement makes no mention of the possible 8.1 billion Euro tranche; finance ministers meet in summit today…

Despite a seemingly positive tone from a statement released today by the Troika at the end of a review mission to Greece, it is still unclear if the next 8.1 billion Euro bailout tranche will be approved by Euro-zone finance ministers at a summit in Brussels today.

The statement released by the EU and IMF leaders, who make up the Troika, said the macroeconomic outlook in Greece remains broadly in line with projections with uncertainty. Regarding the reforms that the Troika had required Greece to implement to receive the total 240 billion Euros of bailout, the Troika said today that policy implementations are behind in some areas.

There was no mention of the 8.1 billion Euro bailout tranche in today’s statement, and worries may persist that a failure to agree on a Greek bailout payment in today’s finance ministers meeting will delay the payment until the next summit, which is three months away.

However, the Euro has floated slightly higher against the US Dollar over the European session, possibly corresponding to rise in the European markets after Friday’s US equities rally, or the Euro may be rising on expectations for other possible agreements in today’s summit of finance ministers. EUR/USD is currently trading above 1.2800, and the pair may next see support by a seven month low at 1.2744.

There were no major economic releases thus far in the European session, and German industrial production will be released at 10:00 GMT. German trade balance was reported for May at 13.1 billion Euros, disappointing expectations for 17.8 billion.

EURUSD Daily: July 8, 2013

Euro_Rises_Despite_Uncertainty_Over_Next_Greece_Bailout_Payment_body_eurusd_daily_chart.png, Euro Rises Despite Uncertainty Over Next Greece Bailout Payment

Chart created by Benjamin Spier using Marketscope 2.0

(How does a Currency War affect your FX trading? Take our free course to find out!)

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.