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Currency storm that caught first the forming markets, then began to spread around the world. It has been exerted pressure on the assessment of liquidity, in some cases intertwined with the economic and political spheres. However, in spite of the powerful blow to investors, the wave also left new investment opportunities for today and in the future.
On Monday, for the first time since 2009, the price of oil crossed the minimum, thereby pushing the index of commodity prices to the lowest level in this century, and identified new challenges for the global economy. The market became under pressure from investors' concerns for a long time about the collapse in oil prices. Loss of significant 2.6% by the international Brent crude dropped the price to a minimum of $44.20 per barrel at the beginning of trading week, which reaches a minimum in the last six and a half years. American WTI continues to trade below $40 a barrel, lowering its value by 3.2% and set the price $39.15 per barrel, breaked the anti-record of 2009.
Greece is on the way to receive a third aid package amounting to 86 billion euros. This promotion was due to the approval of draft agreement by creditor-countries last weekend. According to reports from the Greek and German media it became aware that the paper of reform after lengthy negotiations between Mr. Tsakalotos and the country's creditors was approved.
Over the 15 past years, payments on the Internet have been developed with no regulation or any standardization. This led to appearance of a huge number of payment solutions, which use different mechanisms for transactions processing.
"Each Company in the online payment area has invented its own way of interacting with customers", - noted Yandex.Money representative, Evgeny Vinogradov.
On the 3rd of August financial markets are starting to proceed with their work that was stopped since June, 29, due to aggravation of the debt crisis in Greece.
Greece financial markets will be be functioning with some restrictions. Certain limitations will be specified at the disposal of the Ministry of Finance, that will be published in the Official Gazette.
After the statements of the most influential Fed officials, that the US interest rates may be raised as early as September, the US dollar tried to break and consolidate above a five-week high against the yen on Tuesday. The dollar index has not undergone any changes, in the afternoon it hovered around the level of 98,036 and at night - about 98,147 seasonal minimum.
Fixing the "American" against their colleagues from Europe and Japan continued on Tuesday, after the agreement of Greece on deal with creditors. After such news, market attention of currencies was shifted to differentials yield of United States and Europe. For about a week, the US dollar show strong upward movement against the Japanese yen, which has lost some of its positions due to incorrect predictions about a Greek exit from the eurozone.
Most of citizens of Greece voted against the agreement causing the European lenders on Sunday referendum. Such position can significantly widen the gap between Athens and Europe, which subsequently could lead to default and exit from the eurozone. According to the results of referendum about the measures tightening economy and other reforms, about 62% of Greeks have voted for failure conditions of creditors and IMF. All Greece watched the results of referendum, its results were widely discussed in the country's capital and other cities.
Request of Greece about providing the emergency assistance was rejected at the last moment. Thus, Greece is the first developed country who could not pay the debt to IMF. Leaders of Athens announced that there actually was a request for financial assistance from the EU reserves, which is designed for two years. With its help the Greeks wanted to pay off financial problems and restructure debt. The sense in a new rescue package was about the payment of 29.15 billion euros during 2015-2017.
Yannis Sturnaras, head of the Greek Central Bank, said in his speech today that in case of reticence between Athens and creditors, Greece will default, refuse from the euro and will go out of the European Union. Chairman of the Central Bank also promises big problems. However, experts advise not to panic, as these words are unsubstantiated and create the illusion of danger. On the economic side, all the problems that are described by Sturnaras will not have any serious consequences.
