The Euro/USD is slightly up trading at 1.3661 this morning on expectations that Germany today shall ratify the next debt tranche to Greece. The upturn in Markets experienced over the last couple of days, came to a quick halt in Europe, US and Asia, on renewed fears for a Greek default and its consequences for the Euro and the world banking system.
Commodities continued its free fall with dramatic day trading eases in both precious metals and commodities. Oil price fell to NYMEX 79,50 and Brent 103. Silver fell more than 10 % from a Wednesday high on 32,50 down to 29 on intra trade in the US, recovering to 31 this morning.
The markets are extremely volatile with the smallest news and rumors creating havoc and big swings during daily trading. Till the Greek debt package has been ratified by national parliaments, the most important during this week, markets shall continue to be extremely volatile.