Euro/dollar recovered nicely as leaders finally seemed to wake up and encounter the Spanish crisis. Can this hope continue for another week, before the Greek elections? The upcoming week consists of important inflation and industrial output indicators. Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.
Spain is expected to receive only 40-80 billion euros, dedicated for the banking system without any requirements for austerity. This could be cheered by the markets, but probably for a short time, as Spain will require much more money, and its drop from the list of countries providing bailout funds raises the pressure on all the others. The ECB, which is the single most powerful factor, hasn’t offered any help. Is it waiting for politicians to move first? This is part of the hope in the markets for now. es for more money dropping from the US are lower as well, after Bernanke didn’t provide any hints about QE3, and even said that “returns are diminishing“.
Read the rest of the article [URL="http://www.forexcrunch.com/eurusd-outlook-june-11-15/"]EUR/USD Outlook June 11-15[/URL]
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