EURUSD as well as ES Futures rallied this evening based on headlines that Euro zone strikes deal on second Greek bailout package.
This is an example of noise. Don't believe the hype.
For example the Reuters article states that, "...a second bailout programme for Greece includes new financing of 130 billion euros and aims to cut Greece's debt to 121 percent of GDP by 2020..."
If earlier headlines that Greece will actually need €245 billion to cut its debt to 120% of GDP are true, then the decision to bailout Greece to the tune of €130 billion is completely inadequate and is just another example of serious financial problems being pushed further down the road.
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