 | Money In Motion: Currency Trading
The Greeks will take center stage next Monday when they're expected to announced formal haircuts on the debt. Anything more than 50% is sure to spoke the markets, and send the Euro further into the gutter and perhaps send shock waves through the sovereign bond markets. That announcement is sure to carry significant ramifications for the banks as well since they might have to take bigger write-downs to cover any losses. If investors balk at Greece's terms, than the credit markets could face the very real possibility of a disorderly default, in which case all bets would be off. Either way, it will provide a great catalyst for risk currencies, and we'll tell you how our pros are playing it.
Plus, despite the recent rally in both Italian and Spanish bonds, the specter of a sovereign downgrade of France looms large and has continued to weigh on the Euro, which remains well below 1.30. Rumors of some type of action from S&P have been running through the market for months. So how likely is it? We'll talk to Sean Egan of Egan Jones Rating Agency, who just yesterday downgraded Portugal, to get a clearer picture, and of course, give you the currency trade that could make you money.
And call it a central bank blitz. The central banks of Canada, Mexico and Brazil all meet next week. But there is only one trade our guys are looking at. We'll explain what it is and how you could make money too. That's all coming up tomorrow on Money in Motion Currency Trading.
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MONEY IN MOTION CURRENCY TRADING BLOG
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