Greece clinches bailout deal with creditors

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Source: Reuters
Greek officials and internationals lenders agreed on details of the new multi-billion-euro bailout deal on Tuesday after a 23-hour session of talks. The pact is estimated to be worth of 86 billion Euros, however there was no official confirmation of the bailout's size yet. Greek authorities said that they expect the agreement to be approved by parliament before the end of this week. 
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Tue, 11 Aug 2015 09:05:15 GMT

Gold under pressure from strengthening Dollar

The yellow metal slipped on Tuesday, amid the strengthening Dollar, after the PBoC decided to depreciate the Renmibi. The bullion futures for December delivery fell 0.3% to $1,100.7 an ounce by 7:35 AM GMT. Appreciating Greenback means that the sentiment is bearish for dollar-denominated commodities. Holders of weaker Yuan will have less purchasing power of commodities therefore, it is likely

Tue, 11 Aug 2015 08:17:06 GMT

Aussie falls amid devalued Yuan

The Australian national currency slipped against the Dollar, after the Chinese government unexpectedly depreciated Renmibi. The Australian Dollar fell 1% to 0.7333 against the Greenback by 7:25 AM GMT. The Aussie suffered, since China is Australia's largest export partner, therefore a weaker Yuan means that the Chinese companies will have smaller purchasing power of Australian goods.

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