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Yes, the Greek-related headlines just knock down the Euro over 70 pips, however, that the ECB's ELA program (Emergency Lending) for Greek NB was renewed, which means that liquidity will not be cut off.
ELA will not be done by ECB but "any shortfall in liquidity will be fully made up by Emergency Liquidity Assistance that will be issued by the Greek Central Bank at its own risk."
ECB stepped out
Yes, the Greek-related headlines just knock down the Euro over 70 pips, however, that the ECB's ELA program (Emergency Lending) for Greek NB was renewed, which means that liquidity will not be cut off.
From the official press release :
ELA will not be done by ECB but "any shortfall in liquidity will be fully made up by Emergency Liquidity Assistance that will be issued by the Greek Central Bank at its own risk." ECB stepped out
Thank you to clear that out.
Today we shall find out that it is worse than it seemed at a first moment
Expect Greek reaction - whatever it is - I would not trade today for anything in the world
Today we shall find out that it is worse than it seemed at a first moment Expect Greek reaction - whatever it is - I would not trade today for anything in the world
What today is done is that they are pricing in tomorrows NFP and doing some quick profit taking. There will be some more volatility (not like the past days)
This is far from over : Greece flatly refused to bow down. So far ECB blackmail did not do what was expected
This is far from over : Greece flatly refused to bow down. So far ECB blackmail did not do what was expected
A lot of market makers had sell orders at 1.1500 (Goldman and BNP for example) and above. EURUSD is limited from the upside by the market makers
This is far from over : Greece flatly refused to bow down. So far ECB blackmail did not do what was expected
I agree this is far from over, the negotiations between Greece and the ECB remain tough and far from certain.
I agree this is far from over, the negotiations between Greece and the ECB remain tough and far from certain.
It was about time that someone tell no to troika. Who elected troika so that they can decide? How did IMF became a member of troika (which should be a European body)? Why did Juncker became the EU president (when in Luxemburg he did things 100 time worse than what was done on Cyprus)?
The funniest "argument" against the Greeks that I saw was that Greece should learn about democracy. For gods sake Greeks invented democracy - politicians that does not know that notorious fact are governing EU.
Volatility is back. For all the wrong reasons
Dangerous times for trading - be careful guys