Germany says will not offer aid to Greece

Written March 3, 2010 at 7:42 AM EST by  

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Germanys Merkel and Greece PM Papandreuou are meeting on Friday and the early call is no aid from Germany (as per newswires).  This is sending the EURUSD back down.

Also out, is the Challenger Job Cuts.  They showed a 77.4% decline from a year ago.  The total job cuts announced totaled 42,090 which is below the 71,482 last month and the lowest level since July 2006.

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2 Responses to “Germany says will not offer aid to Greece”

  1. Keith on March 3rd, 2010 7:54 am

    AS per newswires? The newswires have been buzzing with speculation on how high the Euro will go once the offer is made, driving and having traders into long positions. Maybe those who kknew the truth have been holding this info back as they had long positions already in place and didn’t want them going south. Seems many have been beating the “go long” drum. Not saying you did that Greg, just others that are in positions where others “trading lemmings” listen to their opinions. They legally can’t advise us, but they sure state their market positions and others follow that. Just a little fed up with that.

  2. Greg Michalowski on March 3rd, 2010 8:06 am

    Keith.. the markets are very tense to say the least. The 1.3654 level is a key level, and the price has difficulty gong higher at the level. I have not heard a lot of go long drums of late but perhaps you heard some overnight. I do think the market is setting up for a move away from the 1.3483 to 1.3654 range. The ECB will have a rate decision and comments tomorrow. Germany Merkel is talking with Greece on Friday. The market remains very fluid. Lots to digest.

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