Collinson FX Market Commentary - July 1 - Greece misses debt repayment

by Collinson FX on 2 Jul 2015

Team Brunel, Team SCA and Abu Dhabi sail past the Sky Tower at the start of Leg 5 Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - July 1 - Greece misses official debt repayment and Click here to find out how to get CollinsonFX's free iPhone app

July 1 - Greece misses official debt repayment and defaults, compounding the previous 'technical' debt default, and throwing makets in to a state of flux. Markets are nervous, considering the Chinese equity collapse and the Puerto Rican debt crises! Negotiations continue and the referendum is likely to buy time, despite the result being irrelevant, giving the regime time.

This left-wing Government reeks of incompetence and cannot comprehend the extent of the 'Grexit' and the impact on the citizenship. The EU will bend over backwards to reach a compromise but even they must have limits!? The EUR slipped back to 1.1140, while the GBP held 1.5730, with a slowly improving GDP number confirming the economic recovery.

The AUDUSD held 0.7700 to begin the new financial year, while the KIWI crashed below the technical supports and now tests 0.6750, with fall in Business Confidence reflecting the state of the local economy. Greece, China and Puerto Rico gives yet another excuse for the Fed to withhold any interest rate rise. The rate rise was always problematic as a return to normality is a contradiction in terms.

How can the Government service record debt levels with 'normal' interest rates? Monitisation of debt has become the 'norm' and confounds all monetary theory.

For more on Collinson FX and market information see:
www.collinsonfx.com and www.collinsonwealthmanagement.com

Countries: | NZ: 0800 338 838 | AU: 1800 143 415 | NY: 1888 6257 833 | UK: 0800 0285 834 |

Disclaimer: The details expressed in this website and accompanying documents or transmissions are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Collinson Forex Ltd accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site.

If you want to link to this article then please use this URL: www.sail-world.com/136034

Collinson FX: Apr 11: US interest rates to drop
The RBNZ left rates unchanged in NZ, but talked a big game, about holding rates higher The RBNZ left rates unchanged in NZ, but talked a big game, about holding rates higher and squeezing out inflation. This has the desired impact on the NZD, which initially pushed upwards, but the news from the US on inflation, destroyed that narrative.
Posted on 11 Apr

Collinson FX are at the Hutchwilco Boat Show
Collinson Forex, a prominent financial services company, is at the Hutchwilco NZ Boat Show Collinson Forex, a prominent financial services company, is making a notable presence at the NZ Boat Show in Auckland from the 18th-21st of May, demonstrating their commitment to the industry.
Posted on 19 May 2023

Collinson FX: Jan 20: No change with PM's exit
The NZ ‘PM of Aotearoa' resigned yesterday, which had little impact on the currency. The NZ ‘PM of Aotearoa' resigned yesterday, which had little impact on the currency, as this will have little impact on the NZ economy.
Posted on 19 Jan 2023

Collinson FX: Dec 5 - Risk appetite rallies
US Federal Reserve Chairman confirms the rate of future interest rate rises may slow US Federal Reserve Chairman confirms the rate of future interest rate rises may slow, as early as December.
Posted on 5 Dec 2022

Collinson FX: Sept 30 - A finger in the dyke
Inflation remains the big problem haunting Central banks across the Western world The Bank of England in an effort to combat the reckless unfunded UK Government's fiscal spendathon mini-budget, kept bond yields lower but is a finger in the dyke. AUD crashed back to 0.6450, while the NZD plunged to 0.5650
Posted on 29 Sep 2022

Collinson FX: June 15 - 'Bear' territory
Markets are crashing across the Western world, with equities charging into ‘bear market' territory Markets are crashing across the Western world, with equities charging into ‘bear market' territory, while crypto's collapse.
Posted on 14 Jun 2022

Collinson FX: June 14: Equity markets routed
The rout on equity markets continued overnight, to open the new trading week and spread The rout on equity markets continued overnight, to open the new trading week and spread to bond and currency markets
Posted on 13 Jun 2022

Collinson FX Market Commentary - July 1 - Greece misses debt repayment

Related Articles