Forex Weekly Round Up 13 July 2015 – 17 July 2015

European Commission head Jean-Claude Juncker stated, “There will not be a Grexit” referring to the fear that Greece would have to leave the euro. Greece is expected to pass reforms demanded by the Eurozone by Wednesday. Parliaments in several Eurozone states also have to approve any new bailout.

Hours before the vote from Greek MP’s, Tsipras suffered a blow with the loss of a key minister, Nadia Valavani. The deputy finance minister resigned, stating it was impossible for her to keep serving in the government given the austerity measures Tsipras had agreed with their creditors. She warned the nation faced a crushing capitulation at the hands of its creditors in Brussels.

UK consumer price index inflation report fell to 0% from 0.1% in May, clothing and food prices were the main contribution to the change along with a smaller rise in air fares in June from this time last year.

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