Greece to repay the ECB and the IMF

Jul 21, 2015 05:24 am UTC| Commentary

Greece should be able to pay the ECB 3.5bn debt redemption due on Monday, due to the 7bn bridge loan agreed last week.On top of that, the Greek government should settle the IMF missed payments (1.54bn in June and the...

Greek uncertainty continues to impact euro sentiment

Jul 21, 2015 05:13 am UTC| Commentary

GBP/EUR has recently hit an 8-year high above 1.44. The combination of more hawkish UK monetary policy comments and ongoing uncertainty about Greeces prospects has fuelled the rally.The break higher opens the way for a...

Australia's unemployment rate likely to increase

Jul 21, 2015 05:12 am UTC| Commentary

In addition to other issues, countrys unemployment rate was a major issue in the RBA board discussion. A key policy guideline for the Bank is that if the economy grows below trend (generally assessed as 3%) then the...

GBP/USD likely to resume its move lower

Jul 21, 2015 05:07 am UTC| Commentary

Having touched a recent peak of 1.5930 in mid-June, GBP/USD dropped to a low of 1.5330 in early July before recovering towards 1.56, around the centre of its long-established range.There was no obvious catalyst for the...

Greece and Fed hike expectations to impact EUR/USD

Jul 21, 2015 04:44 am UTC| Commentary

The events in Greece and to a lesser extent, shifting expectations of US monetary policy has dominated EUR/USD over the past month by the tumultuous. Over much of this period, it has been caught in a range around 1.11,...

BoC rate cut helped boost USD/CAD and GBP/CAD

Jul 21, 2015 04:35 am UTC| Commentary

Market expectations for the Canadian outlook and BoC policy were reset last week, with the Bank having established what looks like a low bar for activity data in the coming weeks/months. They now look for -0.5%q/q ann. in...

Daily Economic Outlook: 21st July, 2015

Jul 21, 2015 04:28 am UTC| Commentary

It is another light day for new economic data, with the UK public finances for June the only release of note. Recent months have seen indications that the public sector deficit is now starting to fall at a faster than...