Analysis and Recommendations: The EUR/USD skyrocketed today climbing 105 points to 1.1147 after a final agreement with Greece was reached and signed.
The EUR/USD skyrocketed today climbing 105 points to 1.1147 after a final agreement with Greece was reached and signed. Greece and its international creditors have agreed on a new multi-billion euro bailout deal, Tuesday following continued talks, foreign media reports said.
“Greece and its international lenders were locked in talks overnight to seal a multibillion-euro bailout deal, racing against a countdown to European Central Bank (ECB) debt repayments falling due within days,” the report said.
The agreement will also keep the country in the Eurozone and avert bankruptcy.
With the deal Greece has agreed to the function of a new independent privatization fund, and how non-performing bank loans will be administered.
The report quoted, Greek finance minister Euclid Tsakalotos saying “two or three small details” were still pending in bailout negotiations.
The indebted country was hoping to wrap up a deal for 86 billion euros in fresh loans so it can get parliamentary and other approvals for aid to flow by August 20, when a 3.2 billion euro debt payment is due to the ECB.
The agreement would mark the end of a painful chapter of aid talks for Greece, which fought against the austerity terms demanded by creditors for much of the year before accepting a deal under the threat of being kicked out of the Eurozone.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Today’s economic releases:
Cur. |
Event |
Actual |
Forecast |
Previous |
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USD |
API Weekly Crude Oil Stock |
-0.847M |
-1.800M |
-2.400M |
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JPY |
Monetary Policy Meeting Minutes |
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AUD |
Westpac Consumer Sentiment (Aug) |
7.8% |
|
-3.2% |
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AUD |
Wage Price Index (QoQ) (Q2) |
0.6% |
0.6% |
0.5% |
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JPY |
Industrial Production (MoM) (Jun) |
1.1% |
0.8% |
0.8% |
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JPY |
Tertiary Industry Activity Index |
0.3% |
0.1% |
-0.7% |
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CNY |
Fixed Asset Investment (YoY) (Jul) |
11.2% |
11.5% |
11.4% |
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CNY |
Industrial Production (YoY) (Jul) |
6.0% |
6.6% |
6.8% |
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GBP |
Average Earnings Index +Bonus (Jun) |
2.4% |
2.8% |
3.2% |
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GBP |
Claimant Count Change (Jul) |
-4.9K |
1.5K |
0.2K |
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GBP |
Unemployment Rate (Jun) |
5.6% |
5.6% |
5.6% |
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EUR |
Industrial Production (MoM) (Jun) |
-0.4% |
-0.2% |
-0.4% |
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Upcoming Economic Events that you should be monitoring:
Friday, August 14, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
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NZD |
Core Retail Sales (QoQ) |
|
0.7% |
2.9% |
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EUR |
German GDP (QoQ) (Q2) |
|
0.5% |
0.3% |
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EUR |
Core CPI (YoY) (Jul) |
|
1.0% |
1.0% |
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EUR |
CPI (MoM) (Jul) |
|
-0.6% |
0.0% |
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EUR |
GDP (QoQ) (Q2) |
|
0.4% |
0.4% |
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USD |
PPI (MoM) (Jul) |
|
0.1% |
0.4% |
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CAD |
Manufacturing Sales (MoM) (Jun) |
|
2.1% |
0.1% |
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USD |
Industrial Production (MoM) (Jul) |
|
0.3% |
0.3% |
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USD |
Michigan Consumer Sentiment (Aug) |
|
93.5 |
93.1 |
Government Bond Auctions
Date Time Country
Aug 13 11:10 Italy Auctions BTPs/CCTeus
Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz
Aug 19 11:03 Sweden Holds bond auction
Aug 20 10:30 Spain Auctions Bonos/Obligaciones
Aug 20 11:30 UK Auctions 4.25% 2036 Gilt
Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug