1. Wall Street opened sharply higher on Monday after euro zone leaders reached an agreement with Greece to move forward with a third bailout loan for the country to avert bankruptcy.

Greece won conditional agreement to receive a possible $95 billion over three years, along with an assurance that euro zone finance ministers would start discussing ways to bridge a funding gap until a bailout – subject to parliamentary approvals – is finally ready.

2. The Canadian dollar was lower against the greenback in early trade on Monday as investors turned their attention back to prospects for higher U.S. interest rates after euro zone leaders reached an agreement on a bailout for Greece.

USD/CAD was last up 0.77% to 1.2756, recovering from Friday’s lows of 1.2653.

3. U.S. natural gas prices rose to a one-week high on Monday, as forecasts for the next two weeks turned warmer, boosting near-term demand expectations for the heating fuel.

Natural gas for delivery in August hit a session peak of $2.855 per million British thermal units on the New York Mercantile Exchange, the most since July 3, before trading at $2.846 during U.S. morning hours, up 7.6 cents, or 2.76%.

4. The euro fell to session lows against the broadly stronger dollar on Monday as markets reacted to news that euro zone leaders hammered out an agreement on a bailout for Greece as long as Athens can implement stringent austerity measures in the coming days.

The euro briefly touched session highs following initial reports of a deal before giving up gains and turning lower

 

 

 

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1. Global financial markets rallied on Friday on hopes that last-minute concessions by Greek Prime Minister Alexis Tsipras would clinch a deal with the country's international creditors and save it from bankruptcy.

Stock markets across Europe and Asia rose more than 1 percent, the euro gained and low-rated euro zone bond yields retreated, after a volatile week that saw Greece's banks remain shut following a referendum vote that rejected previous bailout terms and raised chances of a "Grexit" from the euro.

2. The dollar pushed lower against a basket of other major currencies on Friday, as mounting hopes for progress in Greece debt negotiations boosted demand for riskier assets.

EUR/USD rallied 1.40% to 1.1191 after the Eurogroup described Greece's latest reform proposals aimed at securing a vital third bailout as "thorough".

Eurogroup President Jeroen Dijsselbloem said a "major decision... whichever way" could now be made at a euro zone finance meeting on Saturday.

3. Wall Street was set to open sharply higher on Friday on hopes that Greece might be able secure fresh funding and after China's premier said the country's economic growth was stabilizing.

Greek Prime Minister Alexis Tsipras appealed to his party's lawmakers to back a tough reform package that won praise from France, which called the new proposals "serious and credible."

4. The U.S. dollar edged higher against its Canadian counterpart on Friday, but gains were expected to remain limited as positive jobs data from Canada supported the local currency and as growing hopes for a deal between Greece and its creditors boosted risk appetite.

USD/CAD hit 1.2666 during early U.S. trade, the pair's lowest since July 7; the pair subsequently consolidated at 1.2728, adding 0.16%.

The pair was likely to find support at 1.2562, the low of July 6 and resistance at 1.2743, Thursday's high.

 

 

 

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1. The dollar remained broadly higher against a basket of other major currencies on Thursday, even after data showed that U.S. jobless claims rose to their highest level since February last week as markets were jittery ahead of fresh reform proposals from Greece.

The U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits in the week ending July 4 increased by 15,000 to 297,000 from the previous week’s total of 282,000. Analysts had expected initial jobless claims to fall by 7,000 to 275,000 last week.

2. U.S. stocks were sharply higher at the open on Thursday as trading returned to normal at the New York Stock Exchange, a day after the exchange suspended operations for almost four hours due to a technical glitch.

All 10 major S&P 500 sectors rose as Beijing's efforts to halt a rout in Chinese stocks finally bore fruit and the U.S. Federal Reserve's June meeting minutes indicated that a rate hike might be pushed back.

U.S. stocks had fallen sharply on Wednesday as market turmoil in China, a rout in commodity prices, the Greek crisis and a major outage on the New York Stock Exchange spooked investors.

3. Natural gas futures extended losses to hit a four-week low on Thursday, after data showed that U.S. natural gas supplies rose more than expected last week.

Natural gas for delivery in August hit a session low of $2.648 per million British thermal units on the New York Mercantile Exchange, the weakest level since June 8, before trading at $2.652 during U.S. morning hours, down 3.4 cents, or 1.25%. Prices were at around $2.689 prior to the release of the supply data.

  

 

 

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1. Microsoft Corp (O:MSFT) said on Wednesday it would cut 7,800 jobs and write down about $7.6 billion related to its Nokia (HEL:NOK1V) handset business, which it acquired in 2013.

 

Most of the job cuts will be in the phone hardware business, underscoring the company's shift from hardware to its core software business.

2. Shares in Asia slumped on Wednesday as efforts by China to support shares failed to halt a rout in progress for more than a week and nervousness over a deadline for Greece to develop a reform package also dragged down sentiment.

 

The Shanghai Composite Index lost 3.8% by the break after having fallen as much as 8% shortly after the open with trading in more than 500 companies listed in Shenzhen and Shanghai suspended.

3. The dollar fell to one-and-a-half month lows against the broadly stronger yen on Wednesday, dropping more than 1% as plunging Chinese stocks bolstered investor demand for the safety of the Japanese currency.

USD/JPY hit lows of 121.02, the weakest since May 22 and was last at 121.13, off 1.16% for the day.

4. Gold prices fell to a four-month low on Wednesday, as investors continued to monitor developments surrounding Greece's debt crisis and as losses mounted on Chinese stock markets.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange hit an intraday low of $1,146.20 a troy ounce, a level not seen since March 18, before trading at $1,150.00 during European morning hours, down $2.60, or 0.23%.

5. U.S. natural gas prices rose for the first time in three sessions on Wednesday to bounce off a four-week low as market participants looked ahead to fresh weekly information on U.S. gas inventories to gauge the strength of demand for the fuel.

Natural gas for delivery in August on the New York Mercantile Exchange tacked on 2.1 cents, or 0.79%, to trade at $2.738 per million British thermal units during U.S. morning hours.

 

 

 

 

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1. The U.S. dollar rose to fresh three-month highs against its Canadian counterpart on Tuesday, as the greenback remained broadly supported by concerns over a potential Greek exit from the euro zone and as downbeat Canadian data dampened demand for the local currency.

2. U.S. stocks opened higher before quickly reversing course on Tuesday morning, setting the stage for another volatile session as investors await the outcome of a euro zone summit that will attempt to find a solution to the ongoing debt crisis in Greece.

3. China's stock markets are in trouble. The Shanghai Composite Index has fallen over 25% since mid-June. The Shenzhen, which has more tech companies and is often compared to America's Nasdaq Index, is down even more.

4. Oil prices plunged nearly 8% and broke below $53 a barrel on Monday, the deepest plunge for crude oil since early February.

 

 

 

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