ECB increases ELA limit for Greek banks

Jul 17, 2015 07:22 am UTC| Commentary

Yesterday EUR-USD traded just above 1.09, this morning the pair is trading only just below that level. Therefore, based on the currency movement one might think nothing much has happened. And that is probably correct for...

ECB raises the Greece ELA, agrees on bridge-loan

Jul 17, 2015 07:21 am UTC| Commentary Central Banks

Bridge-loan for Greece agreed, ELA raised by 900m, banks will reportedly reopen on Monday, and the Bundestag will approve the austerity bill today. Something that can go wrong possibly is the Eurostoxx is up 10.7% since 7...

Brazil’s economy facing challenging outlook

Jul 17, 2015 06:57 am UTC| Commentary

Brazils industrial production index posted 0.6% m/m sa growth in May, the trend remains fragile. The countrys headline growth was driven by non-durable consumption and capital goods production, but auto intermediate goods...

Stabilized oil production and net exports to support Colombian growth

Jul 17, 2015 06:13 am UTC| Commentary

Although Colombias industrial production fell 3.9% in May, activity data are giving mixed signals, much more than expected by the consensus (-2.2%), consumer confidence surprised to the upside, growing by 2.7%.Despite this...

Chile's weak metal prices and mining sector slow down likely to contract Q2 GDP

Jul 17, 2015 06:06 am UTC| Commentary

The slowdown in the mining sector, which has been driven by weak metal prices, suggests a contraction of Chiles GDP in Q2Chiles economy is slowing. The industrial production index printed a sharp decline of 1.2% y/y,...

China's GDP growth indicates signs of stabilization

Jul 17, 2015 05:58 am UTC| Commentary

Chinas retail sales growth recored 10.6% y/y growth in June, which was 10.1% in May. The countrys June data came in better than expected, with Q2 GDP growing 7.0% y/y, pointing to more signs of stabilization. Fixed asset...

Iran and P5+1 agrees on a timeline for sanctions relief

Jul 17, 2015 05:56 am UTC| Commentary

Iran and the P5+1 (the group of six world powers namely China, France, Russia, the United Kingdom, and the United States, plus Germany) have finally agreed to a timeline for sanctions relief after several years of...