Market fears about future of Euro Zone weigh in
An intense day awaits the EUR as no apparent practical solution is coming out from the European Summit in regards of the current crisis: while the proclamations about keeping Greece in the EU abound, no actual plan - especially no new plan or course of action - has been announced yet. The friction between the German approach - fiscal and monetary responsability, with strict containment measures and control - and the new French President Hollande's perspective - less focus on numbers, more on growth - is starting to show its effect: the impossibility of finding a common ground and thus produce a complete, effective solution to the crisis.
This is leading investors away from the EUR and the relative markets, looking for safer harbors such as the USD and some commodities. The GBP is starting to feel the effects of the spillover of the crisis on the continent: The BOE is apparently ready to roll out some countermeasures, but for the moment the situation remains adverse.
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