Market Review - 03/07/2015 19:00GMT
Euro trades narrowly on Friday ahead of Sunday's Greek referendum
The single currency traded inside 1.1065-1.1118 range on Friday as markets players are waiting for the vote outcome of Sunday's Greek referendum. Despite brief rise to 1.1118 in Euorpe, euro fell to 1.1065 before rebounding later in the day.
Proto Thema website showed Greek referendum opinion poll says 41.7 percent to vote 'yes' vs 41.1 percent voting 'no', 10.7 pct undecided. Avgi newspaper showed Greek referendum poll shows 'no' vote at 43 pct, 'yes' vote at 42.5 pct, undecided 9 pct.
Greek PM Tsipras tells supporters 'whatever happens on Monday, this is a celebration of democracy'; Greeks determined to take matters into their own hands; Sunday referendum about staying in Europe, and deciding to live in dignity in Europe; urges voters to say "proud no to ultimatums and those who terrorise you".
EU's Yusk said Greek referendum is not about whether to stay in the euro zone; if Greeks vote 'no', space for negotiation will be smaller, but still want to keep eurozone united.
Moody's said rating actions on covered bond ratings follow rating actions on relevant issuers and lowering of Greece's country ceiling to CAA2. Moody's downgraded all Greek mortgage covered bonds to CAA2; ratings on review for further downgrade; downgraded to CAA2 from B3 ratings of mortgage covered bonds of five Greek programmes and placed the ratings on review for further downgrade; downgraded ratings on mortgage covered bonds issued by national bank of Greece under global covered bond programme, covered bond programme II; downgraded to CAA2 from B3 the ratings of the mortgage covered bonds issued by Alpha bank AE, under its direct issuance global programme; downgraded the mortgage covered bonds issued by Eurobank Ergasias S.A. under its covered bonds I and covered bonds ii programmes.
The greenback ratcheted lower from 123.19 to 122.60 whilst the British pound tumbled from 1.5649 to 1.5563 on Friday.
Next week will see the release of Japan's Coincident Indicator, Leading Indicator, Germany's Industrial Orders, Swiss CPI, eurozone Sentix Index, U.S. Markit Service PMI, Employment Trends, ISM non-manufacturing PMI, Canda's Ivey PMI on Monday.
Australia's RBA rate decision and statement, Swiss Unemployment Rate, Germany's Industrial Output, U.K. Industrial Output and International Trade, Canada's Exports, Imports and Trade Balance, U.S. Redbook on Tuesday.
U.K. BRC Shop Price Index, Japan's Current Account, Economy Watchers Poll, U.K. Budget Report, Canada's Building Permits and U.S. FOMC Minutes on Wednesday.
New Zealand's Business NZ PMI, U.K. RICS Housing Survey, Japan's Machinery Orders, Australia's Consumer Inflation, China's CPI, Australia's Unemployment Rate, Germany's Trade Balance, Exports, Imports, U.K. BOE rate decision, Canada's Housing Starts, New Housing Price Index, U.S. Initial Jobless Claims on Thursday.
Japan's Corp Goods Price, Australia's Housing Finance, Invest Housing Finance, Japan's BoJ Monthly Eco. Survey, Consumer Confid. Index, U.K. Goods Trade Balance, Canada's Employment Change, Unemployment Rate, U.S. Wholesale Inventories, Wholesale Sales and Monthly Budget Statement on Friday.
Euro trades narrowly on Friday ahead of Sunday's Greek referendum
The single currency traded inside 1.1065-1.1118 range on Friday as markets players are waiting for the vote outcome of Sunday's Greek referendum. Despite brief rise to 1.1118 in Euorpe, euro fell to 1.1065 before rebounding later in the day.
Proto Thema website showed Greek referendum opinion poll says 41.7 percent to vote 'yes' vs 41.1 percent voting 'no', 10.7 pct undecided. Avgi newspaper showed Greek referendum poll shows 'no' vote at 43 pct, 'yes' vote at 42.5 pct, undecided 9 pct.
Greek PM Tsipras tells supporters 'whatever happens on Monday, this is a celebration of democracy'; Greeks determined to take matters into their own hands; Sunday referendum about staying in Europe, and deciding to live in dignity in Europe; urges voters to say "proud no to ultimatums and those who terrorise you".
EU's Yusk said Greek referendum is not about whether to stay in the euro zone; if Greeks vote 'no', space for negotiation will be smaller, but still want to keep eurozone united.
Moody's said rating actions on covered bond ratings follow rating actions on relevant issuers and lowering of Greece's country ceiling to CAA2. Moody's downgraded all Greek mortgage covered bonds to CAA2; ratings on review for further downgrade; downgraded to CAA2 from B3 ratings of mortgage covered bonds of five Greek programmes and placed the ratings on review for further downgrade; downgraded ratings on mortgage covered bonds issued by national bank of Greece under global covered bond programme, covered bond programme II; downgraded to CAA2 from B3 the ratings of the mortgage covered bonds issued by Alpha bank AE, under its direct issuance global programme; downgraded the mortgage covered bonds issued by Eurobank Ergasias S.A. under its covered bonds I and covered bonds ii programmes.
The greenback ratcheted lower from 123.19 to 122.60 whilst the British pound tumbled from 1.5649 to 1.5563 on Friday.
Next week will see the release of Japan's Coincident Indicator, Leading Indicator, Germany's Industrial Orders, Swiss CPI, eurozone Sentix Index, U.S. Markit Service PMI, Employment Trends, ISM non-manufacturing PMI, Canda's Ivey PMI on Monday.
Australia's RBA rate decision and statement, Swiss Unemployment Rate, Germany's Industrial Output, U.K. Industrial Output and International Trade, Canada's Exports, Imports and Trade Balance, U.S. Redbook on Tuesday.
U.K. BRC Shop Price Index, Japan's Current Account, Economy Watchers Poll, U.K. Budget Report, Canada's Building Permits and U.S. FOMC Minutes on Wednesday.
New Zealand's Business NZ PMI, U.K. RICS Housing Survey, Japan's Machinery Orders, Australia's Consumer Inflation, China's CPI, Australia's Unemployment Rate, Germany's Trade Balance, Exports, Imports, U.K. BOE rate decision, Canada's Housing Starts, New Housing Price Index, U.S. Initial Jobless Claims on Thursday.
Japan's Corp Goods Price, Australia's Housing Finance, Invest Housing Finance, Japan's BoJ Monthly Eco. Survey, Consumer Confid. Index, U.K. Goods Trade Balance, Canada's Employment Change, Unemployment Rate, U.S. Wholesale Inventories, Wholesale Sales and Monthly Budget Statement on Friday.
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