Something significant is happening for sure as market forces came to the conclusion that gold had to be liquidated so fast and the Euro had to be bought so aggressively. Maybe I missed some important development in Europe, but the crisis is still there as it was a month ago. Spain and its debt situation is the next challenge this summer.

The coming slowdown (or it is already here?) will only make things more difficult for European countries. In a few months additional fiscal measures will be required to try and stabilise budgets. So why this rush to buy Euros? At the same time, gold was heavily sold like if all the printing of money in western countries was over. Actually as we go down toward another slow down more easing will be required (for those who are still in the conditions to do it) the printing machines will become hot. May be what we are seeing is just the result of deception and it is a good trading opportunity.


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