Forex Flash: Satisfaction not guaranteed – BBH
FXstreet.com (Barcelona) - The Brown Brothers Harriman analysts have taken a look at today's Eurozone Finance ministers meeting and believe that there is absolutely no guarantee that today will succeed where others have failed.
If no final agreement is struck today upon which a few parliaments, including the Bundestag, have to approve, attention will turn to the next regular Eurogroup meeting scheduled for December 3. They write, "We are not convinced that the euro's advance last week was really spurred by optimism over a Greek deal. What we found most striking was the euro advanced despite a series of disappointing developments on top of flash PMI which warns that the area's two biggest economies are likely contracting. The deal on Greece proved elusive, as did the next EU 7-year budget, and the Bundesrat, rejected a landmark tax deal with Switzerland and would have protected the anonymity of tax evaders."
If no final agreement is struck today upon which a few parliaments, including the Bundestag, have to approve, attention will turn to the next regular Eurogroup meeting scheduled for December 3. They write, "We are not convinced that the euro's advance last week was really spurred by optimism over a Greek deal. What we found most striking was the euro advanced despite a series of disappointing developments on top of flash PMI which warns that the area's two biggest economies are likely contracting. The deal on Greece proved elusive, as did the next EU 7-year budget, and the Bundesrat, rejected a landmark tax deal with Switzerland and would have protected the anonymity of tax evaders."
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