A confident Merkel

Written by Adam Wiffen Currency Broker [email protected] German Chancellor Angela Merkel has returned yesterday from her summer holidays confident that a deal can be made with Greece. She has said that it is more than likely that the IMF (international Monetary Fund) will join Greece’s Third bailout.   IMF chief Christine Lagarde has welcomed the … Read more A confident Merkel

Greek Stocks Plunge

Athens stock markets reopened after being closed for five weeks yesterday, as expected investors went on a selling frenzy plummeting the General index by 23%. The banks were the first to take a plunge with Piraeus Bank SA and National Bank of Greece SA dropping by 30 percent, the daily maximum allowed by the Athens … Read more Greek Stocks Plunge

Will the FED raise rates in September?

Will the FED raise rates An FOMC meeting was held yesterday evening with the main focus being on any hints or mentions of when they would be raising interest rates. All eyes and ears were on Janet Yellen and what her and her committee may give as to when the US may rise its base … Read more Will the FED raise rates in September?

The Greek Vote

Greek Mps last night debated tough economic measures that had to approve by the end of the day in order to unlock the €86bn bailout deal. The new legislation included tax rises and an increase in the countries retirement age. As debates ran long into the night protesters threw petrol bombs at police during an … Read more The Greek Vote

Tsipras seeks out deal with creditors

Unless you’ve been living under a rock in the past couple of weeks you will know that Greece must repay €1.6bn to the IMF (International Monetary Fund) by the end of the month or face default and a possible exit from the EU. A hoped-for debt deal for Greece appeared to stumble yesterday as Greek … Read more Tsipras seeks out deal with creditors

Germany reject Greek request

Efforts to solve bailout crisis continue After some initially promising talks between Greece and the rest of the eurozone about a potential renegotiation of the existing bailout deal, their request to extend their current loan programme by six months has been rejected. With the deadline for a resolution looming, talks will restart today in the hope … Read more Germany reject Greek request

Sterling Euro still close to 7 year high

Sterling Euro still close to 7 year high GBP/EUR remained relatively range bound yesterday, trading in a range of just over half a cent. With only month-on-month UK manufacturing production data released, and no other data from either the UK or Europe, the small drop in the afternoon was caused by a speech from David … Read more Sterling Euro still close to 7 year high

Busy week ahead for sterling and dollar

Busy week ahead for sterling and dollar It was a relatively quiet day in terms of data on Friday, with only the European CPI flash estimate released. This came in as expected at 0.3%. We did however see some major movement on the GBP/EUR cross, with the pound dropping off from a high of €1.2633 … Read more Busy week ahead for sterling and dollar

Bank of England leave rates on hold

How the interest rate decision affects your currency Today we have seen the GBP/CAD exchange rates remain in a tight 40 pip trading range between 1.8240 and 1.8280. This is despite there being a very important release from the UK. Today we heard the outcome of the latest Bank of England MPC meeting where they decide on any … Read more Bank of England leave rates on hold