profile image

Otmane El Rhazi's Assets Management

The euro is the loser from Greece

Economics by Otmane El Rhazi : There have been more deadlines than hot mousakas in the saga that is Greece, but the imminent collapse of the banking system means that there’s probably 48 hours at most to keep Greece within the Eurozone, should that be what Europe wants (we’ll probably know more on this before the European open) . There are two reasons to suspect that the chance of a deal being cut is greater than would have been the case a week ago on such a result. The first is the size of the majority. With more than 60%…Regards,Otmane El RhaziBusiness Assets ManagementForex & Equity TradingText/Mobile, +44 7414 782 320 RISK DISCLOSURE STATEMENT PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE.

Share on TwitterShare on FacebookShare on Google+Share on LinkedInShare on TumblrComment on FacebookOpen link in new window
profile image

Otmane El Rhazi's Assets Management

Unpredictable Greek saga continues

Economics by Otmane El Rhazi : Yet another twist and turn in the Greek saga as finance minister Varoufakis steps down to pave the way for smoother negotiations to take place between Greece and its creditors. The comprehensive No vote at the week end gives Tsipras a strong mandate so get back around the table and discuss new bailout terms, even if the referendum was not technically relevant as the latest bailout has now expired, it does mean the Eurogroup will have to take note and if they want to keep the Eurozone intact,…Regards,Otmane El RhaziBusiness Assets ManagementForex & Equity TradingText/Mobile, +44 7414 782 320 RISK DISCLOSURE STATEMENT PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE.

Share on TwitterShare on FacebookShare on Google+Share on LinkedInShare on TumblrComment on FacebookOpen link in new window
profile image

Otmane El Rhazi's Assets Management

Jobs and the dollar

Economics by Otmane El Rhazi : We should see the focus move away from Greece today with the US jobs numbers released a day early ahead of the long holiday weekend. Yesterday we saw the dollar flip a little higher on the firmer than expected ADP numbers and today’s official numbers will go some way in determining whether the Fed are able to raise rates in September. The expectation is for a moderation in growth from the 280k rise seen in the May numbers, to around 230k in June. The unemployment rate is seen moving down to…Regards,Otmane El RhaziBusiness Assets ManagementForex & Equity TradingText/Mobile, +44 7414 782 320 RISK DISCLOSURE STATEMENT PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE.

Share on TwitterShare on FacebookShare on Google+Share on LinkedInShare on TumblrComment on FacebookOpen link in new window
profile image

Otmane El Rhazi's Assets Management

Waiting

Economics by Otmane El Rhazi : With the US Independence holiday and the impending Greek referendum on Sunday, today is likely to be a day of relative subdued trading in FX markets and elsewhere. Yesterday’s US employment report set the tone for a softer dollar. Even though the unemployment rate moved lower and down to 5.3%, the combination of a softer headline jobs numbers and downward revisions to prior months it wasn’t the backdrop that served to seal the deal on a September rate increase from the Federal reserve….Regards,Otmane El RhaziBusiness Assets ManagementForex & Equity TradingText/Mobile, +44 7414 782 320 RISK DISCLOSURE STATEMENT PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE.

Share on TwitterShare on FacebookShare on Google+Share on LinkedInShare on TumblrComment on FacebookOpen link in new window