FXstreet.com (Barcelona) - Reports say Greece will not be able to meet debt-reduction targets by 2020, which means the need of €50.16B in additional aid. It’s being rumored that the IMF will stop sending the agreed aid tranches, which is sending the financial markets to a selloff. The IMF cut off to Greece rumor is still to be confirmed. Meanwhile, the Spanish 10-year yield is around 7.50%.
The Italian FTSE MIB (-2.75%) reached -5.00% during the session and the Greek ATHEX is down by -8.00%. The Spanish IBEX 35 (-2.75%), the German DAX 30 (-1.80%) and the French CAC 40 (-2.00%) are also edging lower.
The Eurostat reported today that the public debt in the Euro area has risen to 88.2% in Q1 2012. Other than that, the economic calendar is very light today. Ahead at 14:00 GMT is July consumer confidence in the EMU, expected to drop from -19.8 to -20.0.
Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower open between -1.00% and -1.20%. WTI crude oil (-2.86%) trades at 89.20, while Gold (-0.48%) trades at 1572.
The Italian FTSE MIB (-2.75%) reached -5.00% during the session and the Greek ATHEX is down by -8.00%. The Spanish IBEX 35 (-2.75%), the German DAX 30 (-1.80%) and the French CAC 40 (-2.00%) are also edging lower.
The Eurostat reported today that the public debt in the Euro area has risen to 88.2% in Q1 2012. Other than that, the economic calendar is very light today. Ahead at 14:00 GMT is July consumer confidence in the EMU, expected to drop from -19.8 to -20.0.
Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower open between -1.00% and -1.20%. WTI crude oil (-2.86%) trades at 89.20, while Gold (-0.48%) trades at 1572.
