Greece Failed to Reach an Agreement, EU Leaders to Meet Again on Saturday
QUOTE: The best way to predict your future is to create it….
MARKET PULSE:
· Asian equities plunged as Greece failed again to reach an agreement with its creditors.
· EU Official : Eurogroup will reconvene on Greece on Saturday morning
· IMF says Greece must implement reforms before talks on debt; On June 30 deadline, says IMF doesn’t extend deadlines as a matter of policy
· U.S. consumer spending recorded its largest increase in nearly six years in May, Purchases increased 0.9% vs 0.7% expected
· Euro drifts in a thin range as markets await Greek outcome
. The economic outlook depends to a great extent on global economic developments says Thomas Jordan, Chairman SNB
. SNB Chairman : The Swiss franc is currently significantly overvalued
INDIAN INR:
Markets
· Indian Rupee is trading at 63.610 per USD, as against Thursday’s closing level of 63.518
· USDINR pivot point at 63.600
· USDINR support levels seen at 63.604, 63.597 and resistance at 63.616, 63.623
Factors
· India Leading stock index Sensex trading down by 0.24% at 27,828.64
· Importers bought dollars at 63.57-58 levels while RBI bought dollars at 63.56-57
· Asian equities plunged as Greece failed again to reach an agreement with its creditors.
FOREIGN EXCHANGE:
Markets
· USD Index at 95.47 vs 95.39
· USD JPY at 123.36 vs 123.62
· EUR stood at $ 1.1184 up from 1.1204
Factors
· IMF says Greece must implement reforms before talks on debt; On June 30 deadline, says IMF doesn’t extend deadlines as a matter of policy
· Euro drifts in a thin range as markets await Greek outcome
· Greece failed again to reach an agreement with its creditors.
Markets
· Spot Gold trading at $$1174.55
· Silver spot was at $15.86
· Gold for August delivery was trading at $1,173.80
· Silver july delivery contract was trading at $15.803
Factors
· Gold edges up from lowest since June 8, focus on Greece deal
. Greece failed again to reach an agreement with its creditors, EU leaders to meet Saturday again
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