Greece Debt Worries Causing Jitters

Traders,

The concern surrounding Greece's debt fears are spreading to all lengths of the financial system. Rumors of the euro failing along with numerous lending institutions that have their name attached to the debt are causing widespread volatility in the equity markets and the FX markets. Does all this sound familiar? Remember when the gloom and doom regarding the U.S. dollar and the U.S. financial powerhouses were all going bankrupt and we would be switching to the euro for safety? We just have to realize that these are the times we live in...rumors, constant volatility, unrest, new regulation and last but not least craziness! Let's have a great week and make some pips!!

To the Summit

4xSummit

The RBA did WHAT??

The Reserve Bank of Australia whom was forecasted to increase the Australian interest rate environment by .25 basis points left it unchanged. This surprised almost every economist on the face of this earth. Australia has experienced incredible growth, but having said that, may have had some second thoughts when it comes to tightening the economy. The aud/usd plummeted by over 100 pips in less than 10 minutes.

There are numerous FA's this week, but by far the most popular is Friday's Non-Farm Payrolls report. What will the numbers mean and how will it affect the FX market? Great question...guess we will wait till Friday and see what happens!! No use in getting ahead of ourselves.

To the Summit,

4xSummit