The EURUSD just went apeshit surging by 50 pips as the robots merely read the favorable tone in the headlines as released by Bloomberg, while completely missing the point that absolutely nothing is done yet. Here there are, via BBG:
- JUNKER SAYS SUBSTANTIAL FURTHER PROGRESS HAS BEEN MADE - EURUSD spikes 20 pips
- JUNCKER SAYS CONFIDENT EUROGROUP TO MAKE DECISIONS ON MONDAY -EURUSD unchanged
- JUNCKER SAYS TROIKA HAS PRESENTED DEBT SUSTAINABILITY REPORT - EURUSD spikes another 20 pips
- JUNCKER SAYS GREECE, TROIKA HAVE IDENTIFIED EXTRA BUDGET MOVES -EURUSD unchanged
- JUNCKER SAYS HE'S CONFIDENT OF FEB. 20 DECISIONS ON GREECE - it was supposed to be Feb 15 remember...
- JUNCKER SAYS GREECE SETS EU325 MLN IN EXTRA BUDGET MEASURES -EURUSD unchanged
- JUNCKER SAYS STRONG ASSURANCES FROM LEADERS OF 2 GREEK PARTIES - EURUSD says: "OOOPS"
And the one the robots have so far missed:
- JUNCKER SAYS FURTHER CONSIDERATIONS NEEDED ON SPECIFICS
Translating the last one: NOTHING HAS CHANGED! And just to confirm this:
- Euro fin mins see need for stronger surveillance of Greece.
--> Fiscal Feudalism 101 is baaaaaaack. And the ball is back in Greece's court.
And the whole farce visually:
And the unwind as Atari 2600 processes what it just reacted to: