0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Low
High
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
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bearish
Low
High
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
USD/JPY
Mixed
Low
High
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
More View more
Real Time News
  • $AUDUSD just weakened slightly following disappointing Chinese industrial production and retail sales data What is the Aussie facing over the next 24 hours and heading into next week? #AUD https://www.dailyfx.com/forex/market_alert/2020/08/14/Australian-Dollar-Outlook-Eyes-SP-500-Retail-Sales-After-Chinese-Data.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/b9pmxMkp8o
  • 🇨🇳 Unemployment Rate (JUL) Actual: 5.7% Previous: 5.7% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 🇨🇳 Fixed Asset Investment (YTD) YoY (JUL) Actual: -1.6% Expected: -1.6% Previous: -3.1% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 🇨🇳 Industrial Production YoY (JUL) Actual: 4.8% Expected: 5.1% Previous: 4.8% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 🇨🇳 Retail Sales YoY (JUL) Actual: -1.1% Expected: 0.1% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2020-08-14
  • Heads Up:🇨🇳 Unemployment Rate (JUL) due at 02:00 GMT (15min) Previous: 5.7% https://www.dailyfx.com/economic-calendar#2020-08-14
  • Heads Up:🇨🇳 Fixed Asset Investment (YTD) YoY (JUL) due at 02:00 GMT (15min) Expected: -1.6% Previous: -3.1% https://www.dailyfx.com/economic-calendar#2020-08-14
  • Heads Up:🇨🇳 Industrial Production YoY (JUL) due at 02:00 GMT (15min) Expected: 5.1% Previous: 4.8% https://www.dailyfx.com/economic-calendar#2020-08-14
  • Heads Up:🇨🇳 Retail Sales YoY (JUL) due at 02:00 GMT (15min) Expected: 0.1% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2020-08-14
  • Heads Up:🇨🇳 NBS Press Conference due at 02:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-08-14
Greece Bailout Terms Submitted in Parliament, €86 Billion Hangs in the Balance

Greece Bailout Terms Submitted in Parliament, €86 Billion Hangs in the Balance

2015-07-14 20:55:00
Yash Gandhi,
Share:

Talking Points:

  • Greek parliament prepares for critical vote on bailout terms requiring more austerity tomorrow
  • Greek Prime Minister offers details on agreed bailout terms and Greek banking sector
  • Bleak IMF report shows Eurozone has imposed less debt relief than requirements dictate

After Greece agreed to terms on a third bailout with the European Union at Sunday’s 17-hour meeting, the country was required to seek approval from Athens. As of this afternoon, Greek Prime Minister Alexis Tsipras has submitted the final version of Greece’s imposed pension and tax reforms to parliament. A vote is expected late Wednesday – a ‘Yes’ vote will substantially increase Greece’s chances to pay an upcoming European Central Bank loan as well as a missed International Monetary Fund payment.

Alexis Tsipras shed light on the Euro summit Sunday claiming Greece had two options; to accept the deal or exit the Eurozone. He added pensions and wages would not be cut, but reformed, and believed “It had to be done” even if not demanded. The accepted deal has debt restructuring after 2022 and covers Greece’s mid-term fiscal needs. Tsipras said the fragile Greek banking sector will give €25 Billion Euros to an asset sales fund in the next 30 days to avoid a bail-in. The banking sector will be restored gradually according to Tsipras, and capital controls will be lifted progressively. He concluded by asserting, the final agreement will be ratified in one month.

Eurozone finance ministers are looking for options on a bridge loan, which was part of the agreement, for Greece. The ministers met again early Tuesday with German Finance Minister Wolfgang Schauble voicing hard days ahead with remarks: “finding a temporary financing solution for Greece will be tough; this is what will occupy out attention over the next few days.” European Commission Vice-President Valdis Dombrovskis said European Financing Stabilisation Mechanism is an option for Greece’s bridge loan. However, many EU leaders insist EFSM is not a viable fund for Greek bridge financing.

Adding a troubling facet to the situation, an IMF report conveyed the terms that were set forth by the Eurozone fall short of Greece’s need for “massively more debt relief”. Eurozone countries are attempting to “reprofile” Greek debt to push back repayment dates and cut interest rates on loans. The IMF says debt-to-GDP will peak at 200% over the next two years. The IMF report is significant, as it cannot lend to a country if it doesn’t believe it is sustainable – the fund was willing to be involved in the third bailout once Greece removes itself from arrears.

After EURUSD experienced a pronounced decline yesterday morning, it moved back above its 20-day simple moving average. EURUSD traded at $1.1007 at the time of writing, and is generally conforming to an increasingly mature range as market participants await a clear view of the Euro’s fundamental backdrop.

Greece Bailout Terms Submitted in Parliament, €86 Billion Hangs in the Balance

Join us to discuss the outlook for the Euro and other major currencies on the DailyFX Forums

Trade alongside the DailyFX Team on DailyFX on Demand

Greece’s Calendar

Greece Bailout Terms Submitted in Parliament, €86 Billion Hangs in the Balance

For real time updates on breaking economic news, follow the DailyFX Live Feed

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

DISCLOSURES

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.