FX.co ★ Fundamental Analysis, June 24, 2011

Greece will now focus again on the 2nd and final meeting of the European Council. The context is complicated by the refusal of the Greek opposition to the package of austerity measures, which could prevent the next disbursement of assistance (€ 12bn). Also the 2 nd package of assistance (120bn€ ?) Is in the air, which includes participation of banks and insurance companies in a restructuring process "voluntary" debt helena. For their part, unions unhappy Greeks have called a strike on 29/30 June, the same dates that the program of measures will be voted on in Parliament. This only complicates the situation in a few days crucial for the future of Greece. If the country fails Hellenic national consensus to approve the cuts, go into default by not being able to meet the payment of € 7.000m debt and interest that will expire in mid-July.

Today in the United States published the weekly Unemployment Claims and New Home Sales, but do not anticipate outstanding results. If the results meet expectations, surely arouse the interest of several investors, as they are concerned about the fate of European debt crisis and in fact, if the major economies of Europe, that is the engine for the continent continue to see blood, could increase the malaise.

Moreover, while the gold remains strong thanks to trade around the safe havens, other physical resources showed some degree of tension across the commodities market. Meanwhile, oil has been trading with extreme caution for quite some time and now operators can find opportunities if they perceive a reduction in global demand. For the next two days is expected a high degree of volatility in the stock market worldwide.