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.

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
Subscribe
Please try again
More View more
Real Time News
  • US Dollar Outlook: Fed Decision Due - Will it Spark Fireworks? The $DXY edged lower on Tuesday with $EURUSD, $GBPUSD, and $USDJPY all feeling Dollar weakness. Will the Fed catch markets off-guard with another hawkish surprise tomorrow? Link to Analysis - https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/07/27/us-dollar-outlook-fed-decision-due-will-it-spark-fireworks.html https://t.co/iTt0jJiuUC
  • Crude oil prices are trading largely unchanged following last week's rebound as the Delta variant of Covid and Chinese regulatory measures temper the near-term demand outlook. Get your market update from @FxWestwater here:https://t.co/T3oQa9qksd https://t.co/qgDReDbtcd
  • USD/JPY price action has weakened sharply on the session but is searching for support. Get your $USDJPY market update from @RichDvorakFX here:https://t.co/s6baPFYuS3 https://t.co/1ze3cKJytb
  • RT @BrendanFaganFx: Nasdaq 100 Outlook: Stocks Decline Despite Stellar Tech Earnings, All Eyes Shift to Fed $AAPL $MSFT $GOOG $QQQ $NDX L…
  • $SPX put in for an impressive midday recovery this past session leaving a large lower wick. The scale of the lower wicks consistently larger than corrections off highs https://t.co/BGkiFUwYsk
  • 🇰🇷 Consumer Confidence (JUL) Actual: 103.2 Previous: 110.3 https://www.dailyfx.com/economic-calendar#2021-07-27
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.53% 🇬🇧GBP: 0.44% 🇨🇭CHF: 0.13% 🇦🇺AUD: -0.32% 🇨🇦CAD: -0.46% 🇳🇿NZD: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/foLJDv5tkA
  • US API Stock Changes Crude -4.728M Cushing -0.126M Gasoline -6.226M Distillate -1.882M #OOTT $CL_F
  • RT @Nadex: The Macro Setup is back! Tune in as @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Stocks lower ahead of big…
  • Heads Up:🇰🇷 Consumer Confidence (JUL) due at 21:00 GMT (15min) Previous: 110.3 https://www.dailyfx.com/economic-calendar#2021-07-27
Eurozone Finance Ministers Unlock First Tranche of Greek Bailout Cash

Eurozone Finance Ministers Unlock First Tranche of Greek Bailout Cash

Ryan Cox,

Talking Points:

  • Eurozone finance ministers met to discuss Greece, EU members’ budget plans
  • Eurogroup endorsed first set of Greece milestones, unlocked €2 billion in aid
  • EU Commissioner Moscovici sees risk of Spain missing 2016 budget targets

Stay up-to-date on head official commentary with DailyFX real-time news tweets.

Eurozone finance ministers met in Luxembourg today, with multiple topics set forth on the agenda. The group continued thematic discussion on reforming the services sector in the Euro area along with best budgetary use of gains that have resulted from the currently low interest rates on public debt. Plans to implement Greece’s new European Stability Mechanism program were also covered.

Greece will begin implementing the agreement next week, with progress to be reviewed before December according to EU Commissioner Pierre Moscovici. Eurogroup President Jeroen Dijsselbloem stated that the debt relief can’t be discussed for now until the review is complete. The Eurogroup did endorse the passing of the first set of milestones needed for Greece to receive the first €2 billion disbursement of bailout funding.

The meeting also began preparation for the annual Eurozone budget surveillance procedure. Member states will have to submit draft budgetary plans for yearly review by the European Commission. Spain and Greece have already submitted budget proposals. Commissioner Moscovici sees risk of Spain missing 2016 budget targets while President Dijsselbloem said it is up to Spain to act on EU budget recommendations.

The Greek Finance Ministry expects the Greek economy to contract 2.3 percent and post a primary budget deficit of 0.24 percent of GDP this year. Prime Minister Alexis Tsipras said a review by the Commission is key for Greek bank recapitalization and debt talks. Mr Dijsselbloem said there can’t be recapitalization of Greek banks unless governance is fixed however.

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

DISCLOSURES