EU group and FinMin meetings to start the trading week
Don’t these people have any respect for the beginning of the Karneval period? There will be lots of chat about Greece at today’s EU meeting and the market does not expect the next tranche of Greek aid to be approved. This suggests to me that there may be some topside risk for the EUR later today, if the EU group meeting comes out with a surprising approval?
Basically everything depends on where the next batch of trailing stops is; probably above 1.2790 in EUR/USD and above 101.80 in EUR/JPY (I’m guessing here, I have no exact info yet).