Focus turns to Greece as time is running short
WEEKLY MARKET COMMENTARY |
Investor focus this week will shift back to Europe as European creditors attempt to find an equitable compromise that will provide funds for Greece. The country may run out of cash on Friday, April 9. There is a growing probability that long-term interest rates in the United States will fall and the dollar may appreciate further if no constructive policies to help Greece are put in place early this week.
In the United States, investors will see a very light calendar of data that will include a fresh update on consumer credit, wholesale inventories, import prices and the March monthly budget statement. Also this week, the Federal Reserve (Fed) will publish the minutes of its March 17-18 policy meeting, which will provide insight into the balance of opinion on the central bank’s policy path. There are five Fed speakers on the docket this week, including New York Fed President William Dudley, who will speak on monetary policy followed by a question and answer session on Thursday.