Bewayopa's Trading Ideas

[bewayopa]

Greece has voted overwhelmingly against more austerity with 61 percent of votes backing the government's rejection of further spending cuts and tax increases.

 

[bewayopa]

EUR traded slightly higher after a moderate improvement in PMI's late June in the service sector France and Italy, while Germany's rate of decline.

 

[bewayopa]

The main focus remains on Greece and the possibility of an exit from the Eurozone as yesterday the Greek PM Alexis Tsipras addresses the European Parliament and at the same time his new Fin Min sent their request for a new program to the ESM, the European bailout fund.

 

[bewayopa]

The proposals are due in Brussels by midnight today. The big question remains: in order to satisfy the creditors, he’ll have to make deeper cuts than in the previous proposal?

 

[bewayopa]

If the Greek problem is resolved without a Grexit, then we could expect the euro to rally.

 

[bewayopa]

European Commission, ECB and IMF put the financing needs of Greece up to EUR 82-86 bn

 

[bewayopa]

EUR/USD advanced a bit but remained way below our 1.108 resistance line. In a test around that area, we have a negative short-term picture.

 

[bewayopa]

Greek people faces a Parliamentary vote today on the bailout agreement reached with European leaders, with EURUSD going low.

 

[bewayopa]

Euro-area finance ministers authorized a $7.6 billion bridge loan to Greece

 

[bewayopa]

Markets are rapidly moving back to normal as Greece moves to the background.