AUTOREFRESH 
German government to push for tighter EU fiscal discipline
By Sean Lee || May 16, 2010 at 22:25 GMT
|| 7 comments || Add comment
The recent debt woes of the European PIIGS is putting Germany in a stronger position when it pushes for stringent EU fiscal reform and discipline, as the FT reports here. The death of the EUR might be ever so slightly exaggerated and with EUR shorts now at new record levels, I’d be wary about selling down here at these levels. Remember that 1.2330 is the big low from the time of the GFC!
Good morning, Sean. When you have a spare moment, please comment on the EUR/GBP weekly chart and how there appears to be nothing technical to stop a continued drop to at least 0.8399 – if not even further to 0.8186
Morning Solange. It definitely looks like the market wants to have a test of this very important technical level. We’ve gotten close twice in recent weeks and I expect to see one last push lower. What happens then is pivotal for the medium term direction imho. As you say a clean break should see us fall into the low 80s.
Morning Sean,
If it falls into your web of intelligence, can you pick up the info on why oil free falling last week? I checked my usual market intelligence site, but none seems to give me a satisfactory answer. Don’t know if you could help. Cheers.
Sean, with regard to the Financial Times of London, Dr. El-Erian penned a “guest post” on Saturday (May 15th, at 17:57), on the EU and its current policies toward the euro, that is well worth the time to read.
Sorry Ping, I don’t have any intel on oil mkt whatsoever.
Cheers Solange
fear of lower demand of oil….uncertain conditions…. slowdown in economy….. jut temporal fear… oil will keep rising forever.