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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
Maybe I should start posting my trades and short opinions there.
pretty exact and useful observations, as I can read from ur posts.
Do u post anything on twitter so I can put in my followers list..
Danke schon..
Jacob
chloe, there are indeed no real news regarding Greece, so no real official bail out plan. Look, you should know that the EU contracts do not allow bailouts of other countries so that is the main reason they just dont call it a bailout. But you can be sure that they wont allow Greece to default. So in fact Germany and France WILL step in if necessary.
"The implications of this are difficult to overstate. If the euro is essentially gutting the European and again to a greater extent the Club Med economic base, then Germany is achieving by stealth what it failed to achieve in the past thousand years of intra-European struggles."
http://www.stratfor.com/weekly/20100315_germany_mitteleuropa_redux
Nothing but Words on Greece
More verbal support for Greece but still no signs of concrete plan. EU Chairman Juncker reiterated loan guarantees would not be involved. The climate of urgency has diminished markedly, but markets are not yet ready to lift the euro above the key resistance of $1.38. The medium-term pre-occupation now shifts to the announcement from the Greek PDMA debt agency regarding the next issuance to fund its forthcoming coupon/redemption payments (due in May) of around 18.6bln.
Ashraf
Drdeath, that channel support from Dec low is now rising to 79.80, so a close below it this week would be a very negative for the USD. But need confirmation from close above 1.3810-20 in eurusd.
Ashraf