Category: Forex News

Greferendum: 3 polls show an extremely tight race

Two separate opinion polls show a very tight race between the Greek government’s NO proposal to a YES supporting the creditors’ proposal.

This keeps the tension intact.

Read the rest of the article Greferendum: 3 polls show an extremely tight race
AUD/USD dips to 6 year low

AUD/USD dips to 6 year low

The Australian dollar is under immense pressure, mostly from the crash in Chinese stocks and the overall deterioration in the world’s No. 2 economy, Australia’s No. 1 trading partner. AUD/USD has reached a low of 0.7536, just 4 pips above the previous low of 0.7532 seen on April 2nd. Below this level, we are back to

Pound finds more reasons to rise – Services PMI beats

Pound finds more reasons to rise – Services PMI beats

The third and last purchasing managers’ index from the UK followed the second one and beat expectations. Services PMI came out at 58.5 points for June, reflecting strong growth in Britain’s largest sector. This is above 57.4 expected and 56.5 seen in May. GBP/USD advanced and hit a high of 1.5637 before bouncing back down. All in

Leak forced IMF to publish Greek debt report – why wasn’t it on the table?

Leak forced IMF to publish Greek debt report – why wasn’t it on the table?

The IMF released a report Greece needs debt relief and a new aid package. Not only was this report off the negotiations table, but the IMF admitted on a call that it was forced to publish it due to a leak. It also added that it would not sign up to any new deal that does not

IMF admits Greece will need large scale debt relief + €50 billion – Will it trigger new talks?

IMF admits Greece will need large scale debt relief + €50 billion – Will it trigger new talks?

Varooufakis said he would rather cut off an arm than sign an agreement without debt relief. He said this view is shared by the US government and the IMF. And now, the IMF came out with a new report saying a large scale debt relief is needed and also 50 billion euros. Europe would have to

Non-Farm Payrolls: only +223K, wages flat – USD slips

Non-Farm Payrolls: only +223K, wages flat – USD slips

Disappointing data: 223K job gains, earnings 0% m/m, 2% y/y. The unemployment rate is 5.3% but the participation rate is only 62.6%, lowest since 1977. Most data points fall short. The bigger disappointment comes from wages. USD down with EUR/USD recapturing 1.11. However, the moves aren’t that strong. Non-Farm Payrolls were expected to show a gain of 230K in June

Varoufakis: prefer to cut off my arm rather than sign an agreement without debt restructuring

Varoufakis: prefer to cut off my arm rather than sign an agreement without debt restructuring

The Greek finance minister speaks on Bloomberg TV. The big difference is debt restructuring and the other differences are smaller. He said he will resign on a YES vote or with more color: I prefer to cut off my arm rather than sign an agreement without debt restructuring.  Tension is growing towards the Greferendum. Here are some highlights

UK construction PMI jumps to 58.1 – GBP/USD rises

UK construction PMI jumps to 58.1 – GBP/USD rises

Activity in the construction sector has accelerated in June according to Markit. The purchasing managers’ index rose to 58.1 points, beating expectations. This lifted cable from the lows: GBP/USD has retaken the 1.56 level. Markit’s construction PMI was expected to advance to 56.6 points in June after 55.9 in May. Construction has led the recovery at

EUR/USD sits on low ground as markets awaits NFP, Greferendum

EUR/USD sits on low ground as markets awaits NFP, Greferendum

For a change, the Greek crisis receives a bit less attention and US data is in the forefront. The better than expected figures from the US raised expectations for the NFP and raised the value of the dollar. And in Greece, all eyes are on Sunday’s Greferendum. Updates. Greece Yesterday was a busy day: the day after Greek defaulted

Tsipras not backing down – Greferendum continues but door open – EUR/USD rises

Tsipras not backing down – Greferendum continues but door open – EUR/USD rises

After reports that Greece is backing down on its demands and confusion about the details, the Greek PM addresses the nation. The referendum is on. Greek PM Alexis Tsipras addresses the nation and stresses this is not a vote on EU membership. Here are the highlights Creditors have put better offers on the table once the referendum was