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No mercy for Greece. Athens had explored the possibility of a grace period for a EUR747m payment due to the IMF on May 12, but Christine Lagarde confirmed the fund’s policy of refusing requests for a delay. She said stability in the Greek economy “is not done by a political last-minute accord, it’s done by looking at measures, committing to reforms”. This comes as Greece’s finance minister, Yanis Varoufakis hit back at its country’s lenders last night, insisting he will not back down during crunch talks despite impending debt deadlines
Putin says the worst is over. The Russian president devoted the majority of his annual marathon phone-in to domestic issues, reassuring Russians that the worst of the economic crisis had passed and that they would see a full recovery within two years. As he spoke, security forces raided the Moscow offices of Open Russia, Mikhail Khodorkovsky’s pro-democracy foundation.
Doubt surrounding the forthcoming election is weighing on investor sentiment and increasing volatility in UK currency markets, which could send waves of uncertainty rippling through bond and stock markets. High quality global journalism requires investment. With investors facing the probability of an inconclusive election result for only the third time since 1945, market attention has focused on the possible outcomes, which are numerous and worrying, according to a UBS report published on Thursday.
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AUD/USD rises to two-day high ahead of Aussie CPI
The Aussie Dollar recorded back-to-back positive days against the US Dollar and climbed more than 0.59% on Tuesday, as the US April S&P PMIs were weaker than expected. That spurred speculations that the Federal Reserve could put rate cuts back on the table. The AUD/USD trades at 0.6488 as Wednesday’s Asian session begins.
EUR/USD now refocuses on the 200-day SMA
EUR/USD extended its positive momentum and rose above the 1.0700 yardstick, driven by the intense PMI-led retracement in the US Dollar as well as a prevailing risk-friendly environment in the FX universe.
Gold price cautious despite weaker US Dollar and falling US yields
Gold retreats modestly after failing to sustain gains despite fall in US Treasury yields, weaker US Dollar. XAU/USD struggles to capitalize following release of weaker-than-expected S&P Global PMIs, fueling speculation about potential Fed rate cuts.
Ethereum ETF issuers not giving up fight, expert says as Grayscale files S3 prospectus
Ethereum exchange-traded funds theme gained steam after the landmark approval of multiple BTC ETFs in January. However, the campaign for approval of this investment alternative continues, with evidence of ongoing back and forth between prospective issuers and the US SEC.
Australia CPI Preview: Inflation set to remain above target as hopes of early interest-rate cuts fade
An Australian inflation update takes the spotlight this week ahead of critical United States macroeconomic data. The Australian Bureau of Statistics will release two different inflation gauges on Wednesday.