Goldman Sach's Noyce provides some good insight into a tumultous week ahead.
- July 21 the Euro parliament will convene for an emergency meeting at which some speculate Greece's fate may be decided, leading to a "soft" or "transitory" default which will could lead to a big EUR selloff.
- July 22 in the USA is the deadline by which Congress is supposed to reach a decision (or not) in order to meet the August 2 debt ceiling deadline, if no solution is reached in the next week, it will be the US Dollar's turn to possibly plunge.
- And, then there is Italian and Spanish default contagion risk thats brewing...
If they both sell off the main money flow could be to the Swissie (Swiss Franc - CHF).
A follower emailed me a valid point:
(thanks Paddy, very remiss of me)