the market might remain in consolidation

[kirstenDavid]

I heard someone say today that the market might remain in consolidation until the results of the Greek elections which I think is on Sunday 4 days from now. Then I saw this video about that also. http://video.cnbc.com/gallery/?video=3000095716&play=1.

 

[Enivid]

Yes, a great level of uncertainty before the June 17 elections in Greece.

 

[Fxpipper]

The election results are in, narrow shave for Eurozone but the long term prognosis is not good. For the moment, IMF is stepping in but as others have pointed out, this is Eurozone's last chance to get their house in order..

 

[Fxpipper]

Here's an update: Greek's FM resigns, Greece-Euro meeting is postponed and now, Cyprus is asking for a handout and to top this, Moody's has downgraded 24 Spanish banks. To be fair, a similar downgrade on banks located elsewhere has not had much effect but the impact on banks located in Spain and Greece, will face a cash crunch, in short - less liquidity. So yes, the prognosis is not that good for the Euro [at the moment]