Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Greece deal brings confidence back to markets

14.45 AEDT, Tuesday 27 November 2012

Greece deal brings confidence back to markets

By Ben Taylor (Sales Trader, CMC Markets)

Despite a tepid start to the day the market has rallied higher in light volume as we saw Euro Finance ministers reach a deal to provide Greece with debt relief.

The deal has brought confidence back into today’s markets. The Greek debt issue has been a hand break on the markets march higher. If Greece meets its pledge under the bailout plan it can now expect to receive its next tranche of payments which is positive for risk assets and currencies.

The Aussie dollar has been a beneficiary of the deal struck between the Eurozone and the IMF. A break above 1.05 is now expected in the coming days and could continue higher if the RBA holds at its next meeting.

While Congress has been on a break the US market has managed to sustain gains, however now that they are back at it the fiscal cliff talk will continue to be the main topic point.

Talk that the republicans are preparing to cave in on their “no tax hike” beliefs have the markets pricing that a resolution is near. If the compromise starts to fade we will see quick moves that reduce the current risk premiums in US markets.
ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news