I smell barrier/knock-out options waiting to fail. They are fighting for their dear life, but alas, one cannot stand in front of a freight train holding up a garbage can lid as a shield.
I suspect that is exactly what will play out and don't bet on EUR/USD staying above 1.3000. Before the issue was solvency but the market priced in implicit liquidity guarantees. Now they are realizing that liquidity is in jeopardy. The existing austerity measures are unacceptable to the Greek populace nevertheless any imposed by the IMF, you've seen a myriad of strikes, recent outbreaks from the Revolutionary Struggle (EA) members, the impact of the volanic ash from Eyjafjallajokull and the sword of damocles in the form of Katla. From a politicians perspective, he has no choice but the restructure or default, less he wish exile upon himself from his own country.
Hey guys, I heard that Greece could activate the aid before talks end. But maybe they won't. Or maybe they will. No, they won't. Yes, they will. We have a gun on the table. No, we don't. Please lend us money.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(1 year ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(1 year ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(1 year ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (1 year ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (1 year ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (1 year ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(1 year ago)
And this is just Greece. The others wait in line.
1) debt restructuring
2) default