Strategy Video: The Euro's Fundamental Outlook Takes a Concerning Bearish Turn
• There are three general weights the Euro faces: stimulus, a global risk shift and sovereign troubles
• The Greece affair has oscillated from crisis, to hope back to a troubled outlook since Syriza's election
• Global pressures are building, but the Eurozone's troubles may prove the final 'risk aversion' catalyst
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The outlook for Greece's troubled debt position in the Eurozone was on a steady course of improvement since shortly after Syriza won the election a few weeks ago. However, that path - and the market's hopes - received a direct jolt this past session. After a meeting between the Greek Finance Minister and ECB President Draghi, the central bank released a statement that a waiver used to allow some Greek financial institutions access to liquidity would be revoked. While not itself fatal, the situation is taking a turn towards and anxiety and brinkmanship. Greece's situation is only one element of a broader web of bearish pressures the Euro faces. We take an update on what is guiding the shared currency in today's Strategy Video.
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