06/19/2015 - Why Won't EUR React to Greece?

* Why Won't EUR React to Greece?
* Market Movers: Weekly Technical Outlook
* Look Ahead: Stocks
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At the end of a week when Greece remains teetered precariously on the precipice of bankruptcy and Eurozone expulsion, the EUR is poised to end the week higher versus the USD. Gone are the days when the EUR would tumble 300-400 pips on a stalemate between Greece and her creditors, so what is going on and is this the calm before the storm for the single currency?

We think that this time the market is reacting differently to the Greek crisis for a few reasons:Greece is considered a political problem, not a financial problem: thus, it should not have a long-term impact on EUR-based assets.Ireland, Spain and Portugal are in stronger fiscal and economic positions than they were in 2010 and 2012, so the risk of contagion is much reduced.... Full text »

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