10 Jul 2015
Key events ahead: Greek parliament vote on proposal, Yellen’s speech – Danske
FXStreet (Barcelona) - Signe Roed-Frederiksen, Senior Analyst at Danske Bank, previews the key events ahead – Greece parliaments vote on the reform proposal, Eurogroup meeting on the weekend, and Yellen’s speech on US economic outlook.
Key Quotes
“The Greek parliament is scheduled to vote at noon on the proposal delivered to the creditors yesterday. According to the media, the proposal is in line with the creditors’ proposal for the Greek referendum. The markets welcomed the latest signs of progress, which also means that the relief rally on a deal Sunday should not be exaggerated.”
“On Saturday the Eurogroup will meet to discuss the proposal and this will be followed by the ‘make it or break it’ EU leader summit on Sunday.”
“Fed Chair Yellen will speak this evening on the US economic outlook. The market is currently pricing only a 50% probability of a rate hike this year (at the December meeting) and Yellen’s comments could give us an indication of whether this pricing is in line with current FOMC thinking. Comments on Greece and China will be at the centre of attention.”
Key Quotes
“The Greek parliament is scheduled to vote at noon on the proposal delivered to the creditors yesterday. According to the media, the proposal is in line with the creditors’ proposal for the Greek referendum. The markets welcomed the latest signs of progress, which also means that the relief rally on a deal Sunday should not be exaggerated.”
“On Saturday the Eurogroup will meet to discuss the proposal and this will be followed by the ‘make it or break it’ EU leader summit on Sunday.”
“Fed Chair Yellen will speak this evening on the US economic outlook. The market is currently pricing only a 50% probability of a rate hike this year (at the December meeting) and Yellen’s comments could give us an indication of whether this pricing is in line with current FOMC thinking. Comments on Greece and China will be at the centre of attention.”