Foreign Exchange Insights and Next Week
Dollar Emerges Strong after Two Mistrusted Deals
July 16, 2015
The first of two agreements reached this week pitted the Greek people against the country’s creditors. It avoided the feared precedent of a member leaving the currency union but did so at enormous cost to the euro’s reputation. To Greece’s partners, the struggle ended with victory for the principle that rules governing common currency area […] More
Central Bank Watch
ECB Statement and Press Conference
July 16, 2015
ECB President Draghi’s introductory statement focuses on monetary policy for the whole monetary union, while the press conference was preoccupied with the Greek situation. Comments on the Statement: In an upbeat tone, the statement says the program of asset purchases totaling EUR 60 billion per month is going smoothly and will be sustained at least […] More
New Overnight Developments Abroad - Daily Update
Draghi, Yellen and Greece in the News
July 16, 2015
Not much data were released in Asia and Europe today. ECB President Draghi’s press conference at 12:30 GMT will be dominated by questions about Greece. As expected, ECB interest rates were left unchanged by the Governing Council. The refinancing rate, deposit rate, and marginal lending rate stay at 0.05%, -0.20%, and 0.30%. With violent protests […] More
