Post Tagged with: "Grexit"

3 Reasons to be Optimistic About Europe

The European debt crisis weighed heavily on the economies, stock markets and the value of the euro in the past few years and there was a sense that solutions were unsatisfactory to say the least. There is a general notion of “kicking the can down the road” while the situation continued deteriorating.

However, there are some small signs that some kind of light could be seen at the end of the tunnel. Perhaps not too soon, but these signs could be more than green shoots.

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EUR/USD June 11 – Euphoric Jump on Spanish Bailout Losing Charm

EUR/USD June 11 – Euphoric Jump on Spanish Bailout Losing Charm

EUR/USD opened the week with an impressive weekend gap, after the announcement of a bank bailout for Spain worth 100 billion euros. This declaration lacks details and the timing shows that it is a move intended to contain the fallout from the Greek elections. Italian issues are still on the agenda. After the initial jump, the [&hellip

8 Holes in the Spanish Bailout

8 Holes in the Spanish Bailout

In an emergency conference during the weekend, the EU decided on granting Spain up to 100 billion euros for its banks.  After long weeks of uncertainty, this move will definitely cheer up markets. However, looking at the details or the lack of them, shows that the gloom could return within days. Here are 8 holes [&hellip

EUR/USD June 8 – Losing Low Support as Spanish Bailout Looks Imminent

EUR/USD June 8 – Losing Low Support as Spanish Bailout Looks Imminent

EUR/USD continues falling and is now below low support, following the rising uncertainty about the Spanish banking system. The euro-area’s fourth largest economy could be a favorite to win another European trophy in football, but its economy is an a race to the bottom. Spain is waiting for an external report on the banks and [&hellip

Greece: Either a Grexit or Bailout 3

Greece: Either a Grexit or Bailout 3

The situation in Greece is deteriorating quite rapidly. An exit from the euro-zone has high chances. If not, a third bailout program including debt restructuring also for the official sector is on the cards.  The second bailout program is showing more and more signs of failure, and the current situation isn’t likely to last, whatever [&hellip

EUR/USD June 1 – Loses Critical Support as Spain Suffers, Before NFP

EUR/USD June 1 – Loses Critical Support as Spain Suffers, Before NFP

Euro USD is dipping below another important support line as Spanish yields remain at dangerous levels and no help is at sight. IMF contingency plans for Spain don’t seem serious enough and fail to reassure markets. In Greece, different polls contradict each other and meanwhile state coffers run low. In the US, a wide array of [&hellip

Greece Already has Plan for Parallel Currency to Euro – Russian Central Banker

Greece Already has Plan for Parallel Currency to Euro – Russian Central Banker

Sergey Shvestov, the vice president of Russia’s Central Bank, said that Greece already has a plan to introduce its own currency, in parallel to to the euro.  He said it with high certainty. Making contingency plans for different options is the right thing to do for anyone, but saying it about Greece and with such a [&hellip

EUR/USD Free Falling to a 22 Month Low

EUR/USD Free Falling to a 22 Month Low

EUR/USD is diving to fresh 21 month lows after the US New Home Sales exceeded expectations. This was just the camel that broke the camel’s back. An earlier dip, following comments regarding a euro exit ended in a short lived recovery. The weekly chart provides the big picture for this dive: We now have the [&hellip

AUD/USD Falls Deeper in Downtrend Channel

AUD/USD Falls Deeper in Downtrend Channel

The Australian dollar is certainly suffering from the fresh US dollar storm. After a temporary escape from the downtrend channel earlier in the week, AUD/USD quickly returned, and is digging deeper in the downtrend channel. The growing prospects of a Greek exit from the euro-zone push the “safe haven” greenback higher across the board. As [&hellip

Canadian Dollar Closer to Year Lows Against US Dollar

Canadian Dollar Closer to Year Lows Against US Dollar

The Canadian dollar isn’t strong enough to weather another US dollar storm. The better-then-expected New Home Sales in the US were a trigger for a stronger dollar across the board. USD/CAD shot above resistance and is now close to the highest levels in the year, recorded in January. The weaker than expected core retail sales [&hellip