MARKET BRIEFING – LONDON OPEN 10.08.2015
Posted: Mon Aug 10, 2015 11:10 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 10.08.2015
It is hoped that the final deal between Greece and its international creditors will be concluded by tomorrow, as the negotiations on the final bailout programme are currently underway.
Greek finance and economy ministers are being in the final steps of negotiations with the creditors’ delegates currently. It was previously said that the final agreement is expected to be reached by August 18, with the final date now moved closer.
“Efforts are being made to conclude the negotiations. The horizon is by Monday night or early Tuesday,” – a Greek official in the interview to Reuters news agency was quoted.
“When the new bailout comes to parliament for a vote it will be one bill with two articles – one article will be the loan agreement, the Memorandum of understanding and the second article will be the prior actions,” he continued.
At the moment, for institutions are negotiating the 86 billion euro deal with Greece – The International Monetary Fund, the European Central bank, European Commission and the European Stability Mechanism and there is a confidence that the agreement will be reached shortly. The indebted country needs additional liquidity in order to support its banking system and make payments on its obligations.
There are still some questions remained to agree though. The final amount of the third bailout program, the Greece’s third in the last five years should be evaluated. There are also some discrepancies regarding the country’s reforms, which need to be worked out so the fresh funds could be released.
The impending amount of 3.2 billion euro is due to the European Central Bank on August 20, therefore the solution needs to be found shortly. The situation, nevertheless, is not pressing for an immediate solution as previously it was previously the case. The reason is that there are still additional 5 billion euros available for the Greece to borrow from a European fund.
Greek stock exchange has declined for more than 15% during the last week of reopening, after being shut since June 29.
EURUSD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1.1062
Target 2: 1.0864
Projected range in ATR’s: 0.0099
Daily control level: 1.1125
GBPUSD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1.5592
Target 2: 1.5384
Projected range in ATR’s: 0.0104
Daily control level: 1.5670
USDJPY
The intraday technical outlook
Trend 1 hour: Up
Target 1: 124.80
Target 2: 123.48
Projected range in ATR’s: 0.660
Daily control level: 124.45
USDCHF
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.9896
Target 2: 0.9734
Projected range in ATR’s: 0.0081
Daily control level: 0.9710
USDCAD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.3222
Target 2: 1.3012
Projected range in ATR’s: 0.0105
Daily control level: 1.2910
AUDUSD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 0.7494
Target 2: 0.7328
Projected range in ATR’s: 0.0083
Daily control level: 0.7260
GOLD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1109.13
Target 2: 1079.75
Projected range in ATR’s: 14.69
Daily control level: 1105.00
OIL
The intraday technical outlook
Trend 1 hour: Down
Target 1: 50.38
Target 2: 47.42
Projected range in ATR’s: 1.4764
Daily control level: 55.50
MORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 10.08.2015
It is hoped that the final deal between Greece and its international creditors will be concluded by tomorrow, as the negotiations on the final bailout programme are currently underway.
Greek finance and economy ministers are being in the final steps of negotiations with the creditors’ delegates currently. It was previously said that the final agreement is expected to be reached by August 18, with the final date now moved closer.
“Efforts are being made to conclude the negotiations. The horizon is by Monday night or early Tuesday,” – a Greek official in the interview to Reuters news agency was quoted.
“When the new bailout comes to parliament for a vote it will be one bill with two articles – one article will be the loan agreement, the Memorandum of understanding and the second article will be the prior actions,” he continued.
At the moment, for institutions are negotiating the 86 billion euro deal with Greece – The International Monetary Fund, the European Central bank, European Commission and the European Stability Mechanism and there is a confidence that the agreement will be reached shortly. The indebted country needs additional liquidity in order to support its banking system and make payments on its obligations.
There are still some questions remained to agree though. The final amount of the third bailout program, the Greece’s third in the last five years should be evaluated. There are also some discrepancies regarding the country’s reforms, which need to be worked out so the fresh funds could be released.
The impending amount of 3.2 billion euro is due to the European Central Bank on August 20, therefore the solution needs to be found shortly. The situation, nevertheless, is not pressing for an immediate solution as previously it was previously the case. The reason is that there are still additional 5 billion euros available for the Greece to borrow from a European fund.
Greek stock exchange has declined for more than 15% during the last week of reopening, after being shut since June 29.
EURUSD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1.1062
Target 2: 1.0864
Projected range in ATR’s: 0.0099
Daily control level: 1.1125
GBPUSD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1.5592
Target 2: 1.5384
Projected range in ATR’s: 0.0104
Daily control level: 1.5670
USDJPY
The intraday technical outlook
Trend 1 hour: Up
Target 1: 124.80
Target 2: 123.48
Projected range in ATR’s: 0.660
Daily control level: 124.45
USDCHF
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.9896
Target 2: 0.9734
Projected range in ATR’s: 0.0081
Daily control level: 0.9710
USDCAD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.3222
Target 2: 1.3012
Projected range in ATR’s: 0.0105
Daily control level: 1.2910
AUDUSD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 0.7494
Target 2: 0.7328
Projected range in ATR’s: 0.0083
Daily control level: 0.7260
GOLD
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1109.13
Target 2: 1079.75
Projected range in ATR’s: 14.69
Daily control level: 1105.00
OIL
The intraday technical outlook
Trend 1 hour: Down
Target 1: 50.38
Target 2: 47.42
Projected range in ATR’s: 1.4764
Daily control level: 55.50
MORE ON ACFXblog.com