By Dean Popplewell
European leaders will gather at the end of this week to conclude the ratification of the EFSF program that they agreed to in principle a few weeks back. The market seems to have already priced in a successful decision, with the EUR trading north of 1.41 and sovereign spreads stabilizing. Consensus believes that Euro-leaders will succeed in the end in "hashing out an agreement" that allows for a larger EFSF and financing assistance for Portugal.
However, a week is a long time in politics, with leaders continuing to stake out negotiating positions, like Prime Minister Kenny from Ireland. The Irish continue to have a quarrel with the conditions of their bailout and expect them to provide a period of anxiety over the coming days, putting pressure on the EUR more likely than further optimism and advance.
The USD is stronger in the O/N trading session. Currently, it
Complete Story »
ON SEMICONDUCTOR NVIDIA NUANCE COMMUNICATIONS NOVELLUS SYSTEMS NOVELL
No comments:
Post a Comment