Market News

The deal between Greece and the Eurozone may have been signed last week, but without the official okay of the Germany parliament, no monies would be forthcoming.

It looks like Greece has come out the victor after months of hanging on a thin thread and Athens will once again be rescued by its Eurogroup partners.

There are still great doubts that the Greek government will live up to its end of the bailout bargain.

Greek lawmakers have approved the bailout agreement that will keep the country in the euro for now, but more decisive moves are still up in the air.

The spotlight today has swung away from Europe and passed back to the North American continent, with the U.S. Federal Reserve and the Bank of Canada each having had important things to say over recent hours.

A surprise uptick in Chinese GDP sent the Aussie Dollar higher against its US counterpart, rising very close to a 2-week peak.

Despite a deal between Greece and six of its Eurogroup members, the country’s future is still in doubt. China’s stock markets are having a roller coaster ride and traders are uncertain of where they will land.

Oil prices plunged in the wake of an agreement between major world leaders and the Iranian government which provides Iran with the lifting of certain earlier imposed sanctions.

With the Greece crisis taking second stage, analysts are turning their focus to other important data that continue to have impact on financial markets.

Now that the uncertainty over Greece has been eliminated, markets will be refocusing their attention on to the United States.

What a difference a few hours can make in the world of finance. Greece and the Eurozone group have just reached a debt resolution agreement while Chinese’s GPD received better than expected grades.

Emergency talks are still ongoing in Brussels among the Eurogroup as the parties try to hammer out an agreement that will keep Greece in the Euro.

It’s down to the wire in Greece with only hours left to rescue the country from financial devastation. The big question that looms is whether the Eurozone group will accept or reject Greek Prime Minister Alexis Tsipras’s latest debt rescue proposal which included a series of spending cuts, pension savings and tax increases.

Again, for the second week running this could be a very important week in the Forex market, primarily due to a possible approaching resolution of the Greek Euro crisis within the next few days, one way or another.

A final denouement in the Greek crisis is closer and it looks like there will be no Grexit.