Intra-Day Market Moving News and Views EUR/USD
24 Feb 2016 02:30GMT
EUR/USD - .....Earlier Reuters reported that the International Monetary Fund is making a big demand on Greece in the pension reform which required to complete its first bailout review.
Negotiations between the heads of the EU/IMF mission reviewing progress on Greece's pensions overhaul, fiscal targets and the handling of bad loans, took a break earlier this month.
It is unclear when the lenders will return to Athens and whether the latest impasse can be broken.
Greece finance minister Euclid Tsakalotos said that the IMF is pushing them far too much. It's not socially sensitive, and is asking them to do more than they had agreed in the summer.
Under a third bailout of up to 86 billion euros ($95 billion) signed last summer, Greece was asked to cut pension spending by 1 percent of gross domestic product this year. Athens has refused to cut pensions and says it will increase social security contributions instead.
But IMF's director for Europe, Poul Thomsen, has said that Greece will need to implement extra measures worth about 9 billion euros to meet its fiscal targets by 2018 and that the Fund could not see how Athens could do so without major savings on pensions.
Without the lenders' acknowledgement of the reforms, the government cannot start relief talks it needs to show austerity-weary Greeks their sacrifices are paying off.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
AUD/USD risks a deeper drop in the short term
AUD/USD rapidly left behind Wednesday’s decent advance and resumed its downward trend on the back of the intense buying pressure in the greenback, while mixed results from the domestic labour market report failed to lend support to AUD.
EUR/USD leaves the door open to a decline to 1.0600
A decent comeback in the Greenback lured sellers back into the market, motivating EUR/USD to give away the earlier advance to weekly tops around 1.0690 and shift its attention to a potential revisit of the 1.0600 neighbourhood instead.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Bitcoin price shows strength as IMF attests to spread and intensity of BTC transactions ahead of halving
Bitcoin (BTC) price is borderline strong and weak with the brunt of the weakness being felt by altcoins. Regarding strength, it continues to close above the $60,000 threshold for seven weeks in a row.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.