Portugal is currently considered the 2nd weakest eurozone economy after Greece. This week Portugal has managed to sell its T-bonds to the amount of 1.5B euro. The ambitious plans and reforms announced by the new Spanish and Italian governments seem to have reassured investors.
However, there are worries that the deep economic crisis in Southern Europe will increase the risks. The 500M euro lent by the ECB to European banks will contribute to higher interbank liquidity.
As for EURUSD, the experts of consider the following alternative scenarios:
- Upward. 1.3109 = 76% of А М30
а(С)/will come out of the ISF.
- Downward. 1.3186 = 76% of А Н1
а(С)/С will come out of the ISF and the D1 sloping channel.
