December 7th, 2011
The Euro has been very resilient versus the USD despite all the turmoil in Europe. The markets might have already priced in the default of some of the Eurozone nations or believe there will be a positive outcome in this Euro crisis. Looking at the daily chart, the Euro has been consolidating between 1.3300 and [...]
European leaders are working feverously to create what German Chancellor Merkel is calling a “fiscal union” to restore private investor confidence in Europe and rekindle growth. Unfortunately, what she advocates will thrust Europe into a deeper economic crisis, and leave European leaders without the fiscal and monetary policy tools necessary to combat recessions.