Top Stories of the day June 29
News of the day are around Greek crisis and what is the next day. Trading firms are on alert regarding currency volatility where National Bank of Switzerland confirmed that intervened in markets.
1. In wake of MPs approving plebiscite, gov’t agrees to emergency measures after ECB decides not to lift limit on liquidity
Greece heads to a referendum on Sunday that could decide whether its future lies in or out of the eurozone, with its banks closed and capital controls in place after the European Central Bank decided not to further increase the emergency liquidity it supplies to local lenders.
2. Several Italian banks failed to start trading on Monday as fears over a Greek debt default induced many investors to shed peripheral stocks, including Italian, with banks suffering the most.
3. The euro recovered much of the ground it had lost overnight in volatile trading on Monday, but was still 0.8 percent down against the dollar, after Greece took a step closer to a default and potential exit from the euro zone.
4. Swiss National Bank President Thomas Jordan confirmed on Monday that the central bank intervened in markets overnight. That helped reduce gains that had pushed the franc to its highest level in almost four weeks against the euro. Traders turned to the relative safety of Swiss assets after Greek Prime Minister Alexis Tsipras called a referendum late on Friday on the terms of a deal from international creditors.
5. Affirming commitments made last year, Russia’s President, Vladimir Putin, has stated that tax rates will be frozen for the next four years.
By OneStopBrokers
