A German government source tells Reuters it is relieved by today’s successful bill auction.
They continue to hope that the backstop provided by the EU will calm market jitters and allow Greece to fun itself in the market, rather than via the support mechanism. Bond spreads are wider today then they were after the deal began to take shape on March 25, so I’m skeptical that Greek will be able to raise significant sums without help from its friends.
EUR/USD trades close to 1.3600 after US trade figures. Resistance lies up at 1.3615/20 while stops are eyed in the 1.3625/35 region.
Buyers are seen in the 1.3550/55 region. Stops are seen in the 1.3535 region on dips. Looks like a flip of the coin from here, today.
