Vistabrokers
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Vista Brokers: EUR / USD Finished the Hard Week with Decline
On Friday, the euro has fallen against all the major competitors in Forex. Vista Brokers analysts note that at the end of the week the EUR / USD has dropped by 1.74%. All over the week, views of market participants were glued to negotiations of Greece with international lenders, which have not been successful finished.
All possible terms of negotiations on Greece due to expire on Tuesday, when the country has to pay 1.6 billion euros to the International Monetary Fund. Without the agreement on the resumption of financial aids program to Athens will not be able to make this payment, which will mean a default.
On Saturday, parties have not been able to conclude negotiations. The Greek Prime Minister Alexis Tsipras said that on July 5 the country holds a referendum, the results of which will decide whether to agree to the "troika" demands. Tsipras suggested lenders to extend the program until the referendum, however, euro zone finance ministers refused to do so. The European Central Bank meanwhile continues to supply liquidity to Greek banks, but on Saturday, representatives of the regulator said that they are monitoring the situation and may at any time change the decision.
On Friday, the euro has fallen against all the major competitors in Forex. Vista Brokers analysts note that at the end of the week the EUR / USD has dropped by 1.74%. All over the week, views of market participants were glued to negotiations of Greece with international lenders, which have not been successful finished.
All possible terms of negotiations on Greece due to expire on Tuesday, when the country has to pay 1.6 billion euros to the International Monetary Fund. Without the agreement on the resumption of financial aids program to Athens will not be able to make this payment, which will mean a default.
On Saturday, parties have not been able to conclude negotiations. The Greek Prime Minister Alexis Tsipras said that on July 5 the country holds a referendum, the results of which will decide whether to agree to the "troika" demands. Tsipras suggested lenders to extend the program until the referendum, however, euro zone finance ministers refused to do so. The European Central Bank meanwhile continues to supply liquidity to Greek banks, but on Saturday, representatives of the regulator said that they are monitoring the situation and may at any time change the decision.