{"id":22689,"date":"2011-07-27T07:55:53","date_gmt":"2011-07-27T11:55:53","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=15115"},"modified":"2011-07-27T07:55:53","modified_gmt":"2011-07-27T11:55:53","slug":"european-debt-crisis-still-here","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/07\/27\/european-debt-crisis-still-here\/","title":{"rendered":"European Debt Crisis Still Here"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>Traders should remember the euro zone debt crisis hasn\u2019t gone anywhere.  Comments today by German Finance Minister Wolfgang Scha\u00fcble sent the euro lower when Scha\u00fcble said in a letter to the Bundestag, &#8220;it would be a mistake to think that the crisis of trust in the euro area can be solved by a single summit.&#8221; The comments sparked a widening of spreads between Italian bonds and German bunds as well as in Spanish bonds. The euro was lower versus the dollar and in the crosses. <\/p>\n<p><span id=\"more-15115\"><\/span>Traders have been quick to offer the euro when the EUR\/USD rises above 1.45. Initial Support comes in at 1.4440 but the euro could receive a bid should the 1.420 level hold. This is an important support as it coincides with last Friday\u2019s low and the rising trend line on the hourly chart. <\/p>\n<p>Turning to the other debt crisis, Republicans and the President appear to be farther away from a deal and the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/07\/26\/dollar-declines-across-the-board-following-obama-speech\/\">US debt ceiling<\/a> negotiations look to the be the key driver in the minds of forex traders. Core durable goods orders are due up shortly and are expected to show an improvement of 0.5%. A reading above this level would likely feed into dollar selling while boosting the dollar block currencies (NZD, AUD, CAD) which are trading at all-time highs. <\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Traders should remember the euro zone debt crisis hasn\u2019t gone anywhere.  Comments today by German Finance Minister Wolfgang Scha\u00fcble sent the euro lower when Scha\u00fcble said in a letter to the Bundestag, &#8220;it would be a mistake to think that th&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22689","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=22689"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22689\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}