Singapore Stocks (SGX) Market News

In contrast to the volatile ride earlier in the week, it was a relatively benign night for the euro. With an imminent Greek default now off the table (as Greece will now receive its 12 billion euro to meet its upcoming repayment requirements), the euro has enjoyed a stellar week breaking through the 1.42, 1,43, 1.44, and 1.45 levels. As a result, a period of consolidation can be expected. Overnight, it traded in a range of 1.4450 to 1.4538, and currently sits round the 1.4485 mark. With the Greece and European sovereign debt situation now having been ’kicked down the road‘ a little, focus will now turn to next week’s ECB rates decision where the market is fully pricing in a rate hike. Cameron Peacock, Australia