- Italy announces austerity measures
- France and Germany reportedly close to announcing outline of what ‘fiscal union’ will look like
- Other reports suggest that the devil is in the detail and agreement is still a long way off
- Still more reports suggest that new ECB chief Draghi is planning a massive intervention in Sovereign bonds
- If this is true, then I suspect he would only be doing so if he thought agreement on budgetary rules was getting closer
Next batch of macro stop-loss orders in the EUR/USD is above 1.3550 so if a popular announcement is made, watch for these to be targeted.
