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  • EU nations clinch $2.1T budget, virus aid deal after 4 days

    From apnews.com

    Weary but relieved, European Union leaders finally clinched a deal on an unprecedented 1.8 trillion-euro ($2.1 trillion) budget and coronavirus recovery fund early Tuesday, somehow finding unity after four days and nights of fighting and wrangling over money and power in one of their longest summits ever. With masks and hygienic gel everywhere at the summit, which was spread over five days, the 27 leaders were constantly reminded of the potent medical and economic threat the virus poses to their continent, and grudgingly committed to a massive aid package for those hit hardest by the pandemic. To confront the biggest ... (full story)

These fake headlines will blow some trader's account.
  • Post #2
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  • Edited at 4:14am Jul 21, 2020 3:41am | Edited at 4:14am
Quoting RossEdwards
Nothing new to delays to process.. Dont worry ..a deal will be done. When folk get knickers in a knot about EU negotiations of any complexity..Im reminded of asking a friend (now hugely wealthy) who was master of complex and very profitable commercial deals.. "Why are ALL your deals so bloody difficult and fraught with problems.". He said.".If they were simple and easy..any fool could do them".

(Repost)
I never know why when the EU is dealing with any crisis, a whole raft of folk here become sort of chorus of doom, flooding the threads with unashamed schadenfreude. ---
Now we got some guy from Bangladesh (@rafnet?) calling announcement of the successful out come o the talks "Fake News"??

Well I do actually..its for decades been led by the deeply (70-80%+) euro phobic British press ,specializing in sensationalized inflammatory anti-EU rhetoric reflecting among other things, the financial interests their offshore owners... the almost complete lack of UK journalists that speak a second language, and their almost complete lack of representation in Brussels and EU capitals. This in turn overflows in the Anglophone world view into US perceptions especially on the right where EU assumes a diabolical threat to nation state democracy...

Cognitive bias..conscious or unconscious lead us as traders and investors into misjudgment, and occasionally markets into mis-pricing. And for English language news aggregators a difficult job in presenting a balanced mix of news.

Anyway 90% of the immediate consequences are already priced into Euro. Which I guess show that however deluded many retail traders were.. the industry and markets were not in doubt.
Everything is back to normal now, back to all time highs bull market on track to keep on going after a blip
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