My two cents :
If you are wondering why the Euro strengthened instead of crumbling, note the series of events.
First, the day started with a HUGE (absolutely huge) order from the Saudi Arabian Monetary Authority, followed by large orders from BIS (Bankers; Bank), followed by the 115Billion 6 day funding by the ECB, and the 3.5 Billilon "successful bond sale by Spain, All of which contributed to a shortage of Euros in the market.
The stock markets were sagging at this time, and the banks were short of funds to cover their positions. No European Bank would lend to the other (sound familiar) as they all know what each other is hiding in their books (as they all are showing the same doctored books to the public). This caused a credit crisis of sorts, and once the cycle starts, it only feeds off of itself. The banks had to turn to the market to buy the Euro's - so short positions in EURCAD, EURAUD, etc. where they made the most profits were closed to retrieve their Euro's. This of course lead to a flight to REAL safety and this time it was NOT Gold or the USD - it was the European favorite - the CHF and the Yen.
The Euro will resume its downfall in the next following days probably after the 4th of july. I'd put a short in the 1.26 1.27 if you get a chance
If you are wondering why the Euro strengthened instead of crumbling, note the series of events.
First, the day started with a HUGE (absolutely huge) order from the Saudi Arabian Monetary Authority, followed by large orders from BIS (Bankers; Bank), followed by the 115Billion 6 day funding by the ECB, and the 3.5 Billilon "successful bond sale by Spain, All of which contributed to a shortage of Euros in the market.
The stock markets were sagging at this time, and the banks were short of funds to cover their positions. No European Bank would lend to the other (sound familiar) as they all know what each other is hiding in their books (as they all are showing the same doctored books to the public). This caused a credit crisis of sorts, and once the cycle starts, it only feeds off of itself. The banks had to turn to the market to buy the Euro's - so short positions in EURCAD, EURAUD, etc. where they made the most profits were closed to retrieve their Euro's. This of course lead to a flight to REAL safety and this time it was NOT Gold or the USD - it was the European favorite - the CHF and the Yen.
The Euro will resume its downfall in the next following days probably after the 4th of july. I'd put a short in the 1.26 1.27 if you get a chance
