Archive - July, 2015

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The Federal Reserve kept interest rates at near zero once more last night but continued to fuel the ever intensifying fire of speculation concerning when the first rate hike in nine years will be. Chairman Janet Yellen primed the markets in her Statement with positive US economy sentiments, primarily citing progress in the US job market as the main instigator. The US unemployment rate has decreased from 10% in 2009 to 5.3% in July of this year. Yellen’s wording of ‘hiring g…

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After sliding on Friday Gold took massive dive overnight, plunging as much as 5.5% in morning trading, hitting a low of around 1072. This dragged a majority of commodities the same way as the dollar strengthened across the board as investors focus on the timings of a US rate rise. It was the first time Gold traded below $1,100 since early 2010 and its lowest mark since November 2009. Other precious metals subsequently followed suit; platinum down 3.8%, silver 1.8% and palladium trading…

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After a marathon 17 hour session of negotiations, Greece has finally reached a deal with its creditors; here’s what we know so far: *The deal will unlock €82-86bn of funds for Greece - that's enough to keep it going for another three years *There will be no Grexit - European Commission president Jean-Claude Juncker made that much clear *Greece will have to transfer €50bn of assets to a new fund, although it'll be based in Athens, rather than Luxembou…

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The man who shocked us all last week calling the surprise Greek Referendum, the then Greek Finance Minister Yanis Varoufakis' promptly resigned this morning despite the vote coming in as a resounding ‘No’ to accepting their creditors’ reform proposals. He actually initially announced that he would only resign should the Greek public vote ‘Yes’ thus the result and his departure leave analysts and everyone else alike even more ‘in the dark’ a…

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