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- ForexLive US wrap-up: Greek aid package readied
- Fitch downgrades major Greek banks
- EUR/USD pushes to new highs; Trendline just above
- Just when you think this saga is over…
- More Greek bailout details hitting the tape
- AUD/USD consolidating after run for 0.9350 stalls
- Update:Trichet:Europe Recovery Still Fragile;Bumpy Road Ahead
- ECB: No comment
- ECB Trichet: Europe Recovery Still Fragile; Bumpy Road Ahead
- We may have to wait for answers…
- No room for complacency on protectionism: Trichet
- US Budget Recap:Key Fiscal Leaders Sound Dire Deficit Warnings
- Greek press reports Greece to get EUR 20-25 bln
- Gold breaks 61.8% Fibo of drop from $1225
- EUR/USD running for stops above downtrend
- Not sure this is real…
- Unanimous agreement from euro zone would be needed
- Deal reached on IMF’s terms: Reuters
- Bini Smaghi:Central Banks Need to Take Account of Fin Factors
- Fitch: Greece downgrades Greece to BBB-, still negative
| ForexLive US wrap-up: Greek aid package readied Posted: The EU is preparing a loan package for Greece after markets pushes yields to record highs late this week Rates on loans will be somewhat lower than present market rates but high enough to avoid charges that Greece is being "subsidized" Loan deal could be announced as late as next Friday; earlier ... |
| Fitch downgrades major Greek banks Posted: Outlook still negative Fitch earlier today downgraded Greek sovereign debt two notches to BBB- |
| EUR/USD pushes to new highs; Trendline just above Posted: EUR/USD traded at a fresh session high of 1.3494 ramped up quickly from the low 1.3450s. Not seeing anything on the wires, but it doesn't take much to move the market on a Friday afternoon with the EU hatching a fresh bailout plan... Trendline resistance lies up at 1.3512 and stops ... |
| Just when you think this saga is over… Posted: I can't believe they will try and take another week to sort this sh*% out... EUR/USD is a bit lower as hopes for a quick resolution of the Greece bond brouhaha fade. The parameters of a deal have been laid out and they are high, but below the bloated market rates where ... |
| More Greek bailout details hitting the tape Posted: According to an EU source quoted by Reuters Loan rates from EU would be more than 6% for up to three years, 100 bp more than for longer periods Statement to be made by Eurogroup next Friday Could make statement earlier if situation deteriorates Possibility for Greece asking for aid not imminent No loan amount ... |
| AUD/USD consolidating after run for 0.9350 stalls Posted: AUD/USD is consolidating in the 0.930s after making a run for the 0.9350 level late in London. Traders report that barriers are rumored at the 0.9350 levle and the price action suggests they are correct. AUD/USD has been remarkably poised this week despite growing expectations of a Chinese revaluation and all ... |
| Update:Trichet:Europe Recovery Still Fragile;Bumpy Road Ahead Posted: --Adds Two Paragraphs Of Quotes At Bottom Of Story Transmitted 12:36 ET MILAN (MNI) - The economic recovery in Europe is still fragile and though the worst is past, there could well be more bumps ahead, European Central Bank President Jean-Claude Trichet said Friday evening. ... |
| Posted: Reuters reports that the ECB is declining comment on any role for the ECB in size or shape of any loans to Greece, along with the EU, or that it would hold a conference call to discuss to latest developments. EUR/USD is a holding pattern, trading at 1.3470. |
| ECB Trichet: Europe Recovery Still Fragile; Bumpy Road Ahead Posted: MILAN (MNI) - The economic recovery in Europe is still fragile and though the worst is past, there could well be more bumps ahead, European Central Bank President Jean-Claude Trichet said Friday evening. "We don't exclude a bumpy road ahead ... |
| We may have to wait for answers… Posted: Odds are details of a finalized Greek bailout plan will come out over the weekend rather than on a Friday night.There is no rush to get the news out since European markets are now closed. I'm still a bit mystified by Greek bond spreads trading anywhere near 400 bp at the ... |
| No room for complacency on protectionism: Trichet Posted: He does not see a repetition if 1930s-style protectionism but there is no room for complacency, the ECB chief says. More protectionist measures could be in the pipeline, he says. He calls for a global solution to the financial crisis, saying it is an absolute obligation of governments to make the ... |
| US Budget Recap:Key Fiscal Leaders Sound Dire Deficit Warnings Posted: --Fed Chief Bernanke, OMB's Orszag, CBO's Elmendorf All Voice Concerns --As Congress Returns From Break, Bernanke Says Hard Choices Loom --White House's Orszag: Important To 'Get Ahead' of Deficit Crunch --CBO's Elmendorf: American Fiscal Policy Is 'Unsustainable' By John Shaw WASHINGTON (MNI) - With Congress set to return from its ... |
| Greek press reports Greece to get EUR 20-25 bln Posted: The Greek press has further details on the proposed loan package. The amounts mentioned are EUR 20-25 bln at rates between 3.40 and 3.76%. |
| Gold breaks 61.8% Fibo of drop from $1225 Posted: |
| EUR/USD running for stops above downtrend Posted: 1.3512 is where the downtrend from early December comes into play today. Look for short-covering to accelerate if that level is broken. Coincidentally, the 21-day moving average comes in at 1.3511. |
| Posted: Greek bond yields are widening again, if the market data I have is to be believed. We are back above 400 bp. It could be a case of bad data or it could be that the market has doubts over the unanimity of the euro zone. |
| Unanimous agreement from euro zone would be needed Posted: Reuters reports that unanimous agreement among euro group members would be needed for loan disbursement and that the amount of loans and maturities have not been set... Sounds like there is still some work to be done before this is all done and dusted. |
| Deal reached on IMF’s terms: Reuters Posted: Loans will be made to Greece at the SDR rate plus 300 bp plus a 50 bp service charge, according to an unnamed source. If my math is correct, that comes to about 3.76%...A clear win for Greece on a rate basis. It's total cost of funds would be below what ... |
| Bini Smaghi:Central Banks Need to Take Account of Fin Factors Posted: FRANKFURT (MNI) - The recent crisis has highlighted the need for central banks to take account of financial factors, including credit and monetary aggregates, to better gauge fundamental changes in the financial sector, European Central Bank Executive Board member Lorenzo Bini Smaghi said Friday. ... |
| Fitch: Greece downgrades Greece to BBB-, still negative Posted: The two-notch downgrade reflects increased interest coast, worsening economic prospects. Higher interest costs and the deteriorating financial outlook will make it harder for Greece to meet fiscal targets, Fitch says. UPDATE: The lack of clarity on the support package may have hurt Greece's access to financial markets...(who knew? ) EUR/USD has pulled ... |
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