Disliked{quote} As expected Europe riding the latest news from yesterday (the 3 movers were made after Europe went home...). A rather important European session from a technical point of view. A run above latest intraday highs in the opening range (1.145x) can trigger a first and very decent assault to stops on the highs that can extend as high as 1.154x (and even 1.161x if the run strong below stops). Crunching time for bears in the euro this morning. On the news front we have some new report coming on the ECB meeting notes. I don't know what to make of...Ignored
Yesterday's poor PPI numbers are levelling the deflation debate for a bit, any other week and France's numbers would have gotten us a reaction. A dovish FED report that in all honesty was 3 weeks old are given us food for thought here. Greece will get a deal, they can't not give them one. A quiet run upto 1600 is well in the cards here.
I spend a bit of time in the last few days looking in depth into the Greek proposals and reading not just what is published on the mainstream media and I must admit even though I disagree with his their left leaning viewpoints, that the Greeks are taking this seriously and have forwarded well thought out and reasoned proposals and objections. I don't see that measured responce from the EC, just soundbites.
There is a leaked letter from Varoufakis addressed to Dijsselbloem that is well worth reading, I disagree with some items in there as I am a capitalist, but for a Socialist viewpoint it is well written and researched. There are also some op-ed pieces well worth reading.
They are not the principled objectors most see them as, there is actually quite some substance to their side of the debate.
A contrarian; I always disagree.