Movement On The Greek Deal

Another week has almost ended, while all the focus remains on Greece as markets still attempt to weigh the alternatives for Greece and whether the nation might exit the one-currency bloc or not, where uncertainty dominates investors and markets, the thing the weighed sharply on the common currency, which almost shed 2% this week. The sentiment remains negative, while fears and concerns are mounting, where a poll in Greece showed yesterday that the anti-austerity Syriza Party is leading now as more and more Greeks are joining the anti-austerity campaign. The Public Issue/Saki TV poll showed that the leftist party gained 30% of the vote, beating that conservative New Democracy Party with 4 points, noting that this party mainly backs the second bailout deal. In the third place the Socialist ...

The EU informal summit on Wednesday again failed to address the heightened tension across global markets over the outlook for euro stability, no decisions were taken and only disagreement emerged out of the introductory dinner for Hollande to European procrastination and not unity! Heavy downward pressure is still seen on the euro as it slumped against its major peers and trading just above a two-year low this morning versus the dollar after it slumped to the lowest since July 2010 on Wednesday at $1.2545 as the leaders added nothing new and further pinned the fears of a Greek collapse out of the euro. Although former Greek Prime Minister said that there are no preparations in place for a Greek euro exit that he is aware of; news reports yesterday proclaimed the opposite based and ...

(Reuters) - Brent crude slipped around 0.4 percent on Wednesday as a potential deal between Iran and the U.N. nuclear watchdog eased fears of oil supply disruptions, while concerns over the debt crisis in the euro zone and a slowing Chinese economy weighed on demand. The U.N.'s International Atomic Energy Agency expects to sign a deal with Iran soon to unblock investigations into suspected work on atom bombs in the oil-producing country, increasing the prospect of a resolution to a conflict over the issue. Brent crude had dropped 46 cents to $107.95 a barrel by 0402 GMT and U.S. July crude had fallen 56 cents to $91.29, with economic concerns weighing as the World Bank cut its economic growth forecast for China, the world's second-largest oil consumer. Nagging fears of a messy Greek ...

(Reuters) - Gold eased a touch on Monday as a retreat in the euro arrested the metal's rebound from its 2012 lows, but prices remained supported near $1,600 an ounce as investors bet the metal's price correction had been overdone. Spot gold was down 0.2 percent at $1,588.69 an ounce at 1220 GMT, while U.S. gold futures for June delivery were down $3.30 an ounce at $1,588.60. Last week, gold fell to its lowest this year at $1,527 an ounce, before staging its biggest two-day rally since October as traders holding short positions rushed to cover. "I suspect that what we saw last week was partly short covering, and that has helped us on the way up, with maybe a little bit of extra safe-haven interest," Mitsui Precious Metals analyst David Jollie said. "In the next few weeks leading up to ...

(Reuters) - Gold steadied in Europe on Monday as a retreat in the euro arrested the metal's rebound from its 2012 lows, but prices remained supported near $1,600 an ounce as investors bet the metal's price correction had been overdone. a Spot gold was at $1,591.50 an ounce at 0932 GMT against $1,592.00 late on Friday. U.S. gold futures for June delivery were down $1.30 an ounce at $1,590.60. Last week, gold fell to its lowest this year at $1,527 an ounce, before staging its biggest two-day rally since October as traders holding short positions rushed to cover. "I suspect that what we saw last week was partly short covering, and that has helped us on the way up, with maybe a little bit of extra safe-haven interest," Mitsui Precious Metals analyst David Jollie said. "In the next few weeks ...

Taking a general look at markets before the end of this week, we can see that the bearishness started to lose momentum as traders are speculating now what tools Central Banks might provide to revive the slowing pace of recovery, especially the European Central Bank amid the current political instability in Greece, the confirmed recession in Spain and Italy and the deepening debt crisis. Moreover, investors are still worried and concerned regarding the general trend in markets, where after the Federal Reserve reassured that a slowing recovery in the U.S. might trigger another round of quantitative easing, volatility dominated markets as predicting the coming moves became highly uncertain as Politicians failed to calm markets and the fueled debt crisis, leaving policymakers with a difficult ...

The market turned lower once again and surrendered early gains on news that Greek talks failed once again and the nine-day political vacuum is ending with new elections. The latest attempt by president Karolos Papoulias also failed today as he called the leaders of Greek parties to agree of forming a technocrat government to avoid the new elections, yet the agreement again was not seen among the parties and still over the austerity measures and bailout deals that now risks pushing the nation out of the euro. Greek Pasok party leader Evangelos Venizelos said after the meeting that the attempt to form a government failed and new elections will be held. The news was confirmed as well from the presidency official Costas Bitsios in comments to reports in Athens and said that a meeting will be ...

(Reuters) - Copper futures rose on Thursday off the previous session's three-week lows as some Chinese investors took advantage of the dip in prices to cover short positions and restock. Gains, however, were capped by surprisingly weak import and export growth in China, which raised some doubts about growth prospects for the world's second-biggest economy, as well as the political and financial woes in the euro zone. Investors were also cautions ahead of the release of some official Chinese figures for April, including the consumer price index, industrial output and retail sales. Three-month copper on the London Metal Exchange rose 0.8 percent to $8,117.50 a metric ton (1.1023 tons) by 0704 GMT, after closing 0.5 percent lower in the previous session. The most-active August copper ...

High yielding currencies for the second consecutive day continue the downside movements as Greek politicians are still unable to find common grounds regarding the formation of the new coalition government, with new jitters pressuring the euro as more and more Greeks are calling for ending the bailout deal with the European Union as they reject further austerity. Alexis Tsipras, the leader of Greece`s Syriza Party, will join his peers in a meeting today, before creating the coalition government; however, tension remains evident, while fears spread sharply as the leader is expected to demand Samaras and Venizelos, the former Greek finance minister, to revoke their pledges to implement the austerity measures associated with the second bailout deal. High yielding currencies are weak against ...