The algo reaction to "Greece is willing to make concessions," was a immediate vertical ramp higher... which was quickly obliterated when the humans read further that Greece "will not cut its existing pensions," thus meaning no deal is close as the EU demands just that. EURUSD has been weaker all morning...
The Reuters headline that caused it...
Greece is willing to make concessions to strike a deal with creditors as long as it is "economically viable", but will not cut its existing pensions, a top Greek negotiator told Reuters on Wednesday.
The reaction - algo idiocy in DAX, not much in Euro...
[5]
and close up on DAX Futures... as the headline hit
[6]
Charts: Bloomberg
