Angela Merkel, German Chancellor, urges European leaders to ease the pressure on the debt-ridden eurozone economies as the latter do their best to overcome the crisis. Probably, Angela Merkel changed her mind after visiting Greece last week.
Moreover, a delegation of German businessmen visited Spain to estimate the current economic situation in the country and have talks with the local authorities on future bilateral cooperation. Another delegation is about to visit Portugal .
Mrs. Merkel is sure that the economic and financial situation in Greece is improving despite the overall negative sentiment. Even though the improvement is slow and not that efficient, it does take place. There is a major change in the Greek way of thinking and this is the first step towards recovery.
At the same time, there are rumors that Germany is ready to discuss the conditions of providing Spain with a loan through the ESM. Indeed, there is a major change in the German way of thinking because several weeks ago the German financial authorities said that any financial aid to Spain might provoke panic in financial markets.
Forex.
The chart below, courtesy of , reflects the current state of affairs in the market of EURUSD: The currency pair is still recovering against the recent downtrend. The closest levels of resistance are 1.3136 and 1.3229.
Alex von Stachelkopf, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
