It looks like Greece may well be given quite a bit of breathing space regarding their recent debt problems, however I have no doubt that this will all come back to a head in the near future again as personally I feel Greece has got itself as an economy in a dire situation which may take an awful long time to recover from. In fact, as I write this the Greek economy has contracted by 7.5%!!! This in effect is like an individual in big debt problems, trying to pay off their loans and credit cards etc but then receiving a pay cut, meaning they have less money to live off and to try and pay the people they owe – Not a fun situation I could imagine!
This, however dire does not seem to be denting the Euro too much as I feel investors are already readily aware of what is going on and personally it would not surprise me to see the Euro strengthen and not weaken should we here at some point in the future that Greece are leaving the Euro.
Today we see Non-Farm Payroll data for the U.S so those with Dollar interest you may wish to keep a close eye on the markets at 13:30pm or indeed you can get in touch with a friendly broker here, who will be more than happy to watch the markets for you.