Well folks… It's been an interesting trading month filled with uncertainty, speculation, and adventure. In order to avoid a Lehman type collapse, the big financial players in the Euro-Zone made the decision at the end of last month to supply Greece with a large loan to avoid collapse. Had Greece been allowed to default, the Euro would have quickly depreciated in value, creating further instability within the Euro-Zone. After a serious slump in major markets and indices, the markets roared back to life, finishing the week with great fanfare.
Despite reports of continued economic expansion and increased manufacturing activity, unemployment in the US continues to be stubbornly high. Real estate prices have double dipped, albeit there be reports of a sharp increase in home sales. The EUR/USD is trading at $1.45 after being close to $1.41 before the Greece bailout was confirmed. Robot Forex still believes that there is much uncertainty ahead, especially with conflicting reports of economic expansion and a high unemployment rate.