Global macro overview for 12/08/2015:
The Greek government has agreed for the new rescue program from its international creditors; it has saved the Greece from financial ruin. According to the finance ministry, the pact will be worth 85 billion euros in fresh loans during the next three years. Moreover, the Greek bank will be recapitulated with the sum of 10 billion euro by the end of 2015. The deal now must be signed by Greece’s parliament and the euro zone’s finance ministers later this wee, in order to ensure Athens has enough cash to meet the ECB payment on August 20.
The EUR/USD pair is responding very positively to the news and currently is trading at the level of 1.1144 after breaking the golden trendline and the technical resistance at the level of 1.1129.
The material has been provided by InstaForex Company – www.instaforex.com