On Thursday, investors’ attention back to dominate on Greece. According to information provided by the head of the Eurogroup, Jeroen Dijsselbloema, during yesterday’s meeting of finance ministers of the euro area countries, between Greece and the European institutions there has been no breakthrough expected. According to Disjsselbloema, “it is still possible to find agreement and the extension of the program before the end of the month, but the ball is now up to the Greek”. Due to the threat of exceeding the deadline for Greece’s next debt repayment, the head of the European Council, Donald Tusk called an extraordinary summit on Monday, during which politicians are discussing the extension of the financial assistance program for Athens. Economists emphasize, however, that even if an agreement between the Government of Alexis Tsipras and EU lenders by Greece to obtain additional funds before the end of the month may come into question – for their transfer agreement is required because some of the parliaments of the euro.
The end of the week in the FX market should take quite calmly. Morning has been published about PPI in Germany and the eurozone current account balance. During the day, from across the Atlantic will flow while news about the dynamics of CPI (forecast 0.5% m / m and 0.8% y / y) and retail sales (forecast 0.7% m / m) in Canada.
Dr Maciej Jędrzejak, Managing Director Saxo Bank Poland
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