Greece resists calls for third bailoutJuly 08, 2014 Posted by: Pete Karabatos
Greece resisted calls from the ECB to undertake a third bailout as Draghi warned that the pace of the nation’s economic fixes has slowed. According to reporters in Brussels, Greece is ruling out additional aid, which would come with new conditions, after the current rescue package comes to an end. ECB and Eurozone authorities have stated that Greece may need one anyway as Greece is still facing a funding shortfall of 12 billion euros in 2015 and the country may not be able to continue to borrow in the financial markets to fill this gap.
• UK industrial production and factory output came in worse than expected, at drops of .7% and 1.3% respectively vs projected gains of .3% and .4%.
• The INR is trading stronger, off of 2 week lows, after the Rail Minister Gowda stated that international investors would be allowed to invest in the country’s railroad infrastructure.
• BOJ Deputy Governor Nakaso stated in a speech today that “the year-on-year rate of change in CPI is likely to reach about 2 percent, the price stability target, in or around fiscal 2015”
• The CNY strengthened for the third day after the PBOC raised the reference rate by .05% ahead of economic talks with the U.S.
• The NZD hit 2 year highs after Fitch affirmed the country’s AA rating and revised its outlook to positive from stable.
07/09 EUR: France Industrial Production (May)
07/09 EUR: France Manufacturing Production (May)
07/09 EUR: France CPI (June)
07/09 AUD: Unemployment Rate (June)
07/09 JPY: Machine Orders (May)
07/09 JPY: Domestic CPI (June)
07/10 USD: Wholesale Inventories (June)
07/10 GBP: Bank of England Bank Rate
07/10 AUD: Home Loans (May)
07/10 CAD: New Housing Price (May)
07/11 GBP: Construction Output (May)
07/11 CAD: Unemployment Rate (June)
NZD 0.88Read More