8 Jul 2015
Greece making any headway? FOMC cautious minutes - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that after getting an ultimatum from its counterparts, Greek PM Alexis Tsipras finally requested this Wednesday a three-year bailout from the EZ's rescue fund, and pledged to implement reforms as soon as next week.
Key Quotes:
"The EU leaders have requested the country to present a formal proposal as late as next Friday, and have planned to discuss it on a weekend summit. Risk aversion, however, has dominated financial markets for most of the day, albeit some relief rallies were seen after this last news. In the US, the FOMC release the Minutes of its latest meeting, with a pretty mute reaction among currencies, as the market waits for FED Chair Yellen's semi-annual testimony next week."
"The Minutes showed that the Central Bank is getting closer to raise rates. FED officers expressed their concern on increasing global risks coming from China and Greece, but most of them “saw economic conditions as continuing to approach those consistent with warranting a start” to interest-rate increases at some point this year."
Key Quotes:
"The EU leaders have requested the country to present a formal proposal as late as next Friday, and have planned to discuss it on a weekend summit. Risk aversion, however, has dominated financial markets for most of the day, albeit some relief rallies were seen after this last news. In the US, the FOMC release the Minutes of its latest meeting, with a pretty mute reaction among currencies, as the market waits for FED Chair Yellen's semi-annual testimony next week."
"The Minutes showed that the Central Bank is getting closer to raise rates. FED officers expressed their concern on increasing global risks coming from China and Greece, but most of them “saw economic conditions as continuing to approach those consistent with warranting a start” to interest-rate increases at some point this year."