Forex Flash: Irrational disregard for a very delicate environment – TD Securities

FXstreet.com (Barcelona) - The TD Securities team of analysts believe markets are confident about an eventual Eurogroup agreement for the Greek debt sustainability, which would explain the FX movements seen since Asian session, first with a plunge on the disappointing delay of decisions followed by retracement of the losses during the European time. "The fact that the markets can remain so blasé about event/headline risk suggests that most assume Europe will get its collective act together sooner or later", wrote analysts Shaun Osborne and Greg Moore. ""But it also suggests perhaps an irrational disregard for what can still go wrong in what remains a very delicate environment (globally, considering poor earnings, US fiscal cliff issues, geo-political hotspots, weak global growth etc)", they added, warning that market complacency is perhaps building up to rather unhealthy levels.