Well this is pretty much the moment we have been waiting for.
Fundamentally speaking this bailout is bad for the Euro and for the Eurozone because lets face it... getting money isnt solving the inherent problem of a badly run economy.
I have this very bad feeling that the majority of the market is going to see this as something good and long the euro for now. Inevitably this bailout will force the euro to new lows the only question remaining is if the US is going to allow the Dollar to become this strong as this is pretty bad for export rates and thus for the Economy.
Greece hasn't officially accepted anything yet the EU and IMF are willing to take immediate action. Greece is trying to focus on the Bond sales now which will happen now apparently with under market rates.
I don't see 1.37 etc happening i really don't the Euro zone is a mess right now and its dealing badly with this recession, the US has proven to be way more capable at dealing it although the huge deficits and the Healthcare bill arent helping the currency a lot, the fact that euro is still declining ist just an indication of how much worse the EU has it right now.
I guess we will wait and see for now, im looking at longing this for now and Shorting at 3570 ish for now.
Good luck everyone
Fundamentally speaking this bailout is bad for the Euro and for the Eurozone because lets face it... getting money isnt solving the inherent problem of a badly run economy.
I have this very bad feeling that the majority of the market is going to see this as something good and long the euro for now. Inevitably this bailout will force the euro to new lows the only question remaining is if the US is going to allow the Dollar to become this strong as this is pretty bad for export rates and thus for the Economy.
Greece hasn't officially accepted anything yet the EU and IMF are willing to take immediate action. Greece is trying to focus on the Bond sales now which will happen now apparently with under market rates.
I don't see 1.37 etc happening i really don't the Euro zone is a mess right now and its dealing badly with this recession, the US has proven to be way more capable at dealing it although the huge deficits and the Healthcare bill arent helping the currency a lot, the fact that euro is still declining ist just an indication of how much worse the EU has it right now.
I guess we will wait and see for now, im looking at longing this for now and Shorting at 3570 ish for now.
Good luck everyone