Cryptic crossword clue
Enthusiastic reception, with hint of relief, for victory speech 7

The most common and most likely answer to this crossword clue is the 7 letter word OVATION

I've seen this crossword clue in Financial Times
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Buddy explains!

The straight part
We know that "Enthusiastic reception" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case enthusiastic reception = ovation.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does OVATION mean?

OVATION noun
  1. A victory ceremony of less importance than a triumph.
  2. (by extension) A (ceremony for the) recognition of some achievement.
  3. (by extension) Prolonged enthusiastic applause.
OVATION verb
  1. To give (someone) an ovation (prolonged enthusiastic applause).
OVATION noun
  1. The act of laying eggs.

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