Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Fundamental Analysis
Daily Market Analysis by FxGrow
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="FxGrow Support, post: 87595, member: 34135"] [B][SIZE="4"]Daily Market Analysis – 05th Aug, 2015[/SIZE][/B] [I]By FxGrow Research & Analysis Team[/I] [B][SIZE="5"]Greece in severe depression after third bailout[/SIZE][/B] [IMG]http://i1148.photobucket.com/albums/o568/onestore40/Greek43_zpsohcyqcxg.png[/IMG] Greece is trapped in a prolonged and severe depression after securing the third bailout from its European creditors. The country will need a debt write-down of €95 billion to avoid a permanent recession according to the National Institute of Economic and Social Research (NIESR). “We don’t see Greece getting back to the level it was when it joined the euro in 2001, let alone anywhere near where it was before this crisis struck, so this is a prolonged and severe depression for Greece” - Jack Meaning, NIESR. “Certainly, as the prospects for Greece deteriorate while inside the euro area, questions over Greece remaining a member will persist” - NIESR. Greek bank shares sold off sharply for the third day in a row on Wednesday with buyers yet to emerge on a scale large enough to counter continued dumping of the stocks - Reuters. Greece's banks have seen deposits severely depleted as Greeks pulled out their euros for fear they would be forcibly converted into a new drachma outside the euro zone. The banks have been propped up by emergency money from the European Central Bank - Reuters. Greece's dismal economic prospects may also weigh on the market. The European Commission says the Greek economy will shrink by 2 to 4 percent this year, a return to the recession that plagued the country for six years until 2014 - Reuters. EURUSD is down from the yesterday’s high of 1.0985 to trade at 1.0877 in the European trading session today. US Dollar is stronger after comments from Atlanta Fed President Dennis Lockhart said that the US economy was ready for the first rate hike in September. UK PMI services declined to 57.4 in the month of July. Investors are awaiting the Bank of England quarterly inflation report to know the central bank’s growth and inflation outlook. UK construction PMI fell to 57.1 for the month of July amid weak demands. Shortage of new housing and increasing demand has pushed house prices upwards. "Commercial activity was a key growth driver during July, which partly offset ongoing weakness in civil engineering and softer residential building trends" - Tim Moore, Markit. New Zealand unemployment rate rose to 5.9% as the number of n ew jobs created could not meet the growing demand. It is expected that the Reserve Bank of New Zealand will consider further monetary policy easing. "Despite lower quarterly growth, this is still the 11th consecutive quarter of employment growth, making it the second-longest period of growth since the period between 1992 and 1996" - Diane Ramsay, New Zealand. In China services sector rose as Caixin services PMI surged to 53.8 in July, showing a positive sign in the world's second biggest economy. Crude oil is trading lower at $46.20 after Iran’s oil minister said the country could boost output within a week of the lifting of international sanctions. Gold is trading lower in the Europe at 1089.75, while Silver is flat at 14.61 [B][I][SIZE="1"][I]05th Aug 2015 – 13:13hrs GMT[/I][/SIZE][/I][/B] [I][SIZE="1"][B]Note:[/B] This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.[/SIZE][/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…