The European Financial Stability Facility (EFSF) was created to provide stability to the Euro currency by supporting membership countries.
EFSF is authorised to use the following instruments to help fulfill its' mandate:
The aussie has made a slight recovery against the greenback and the euro after the less-than-dovish minutes of the RBA meeting. The EUR/USD, meanwhile, remained flat in this week's trading. Read more >>
EUR/USD had a wild day during the Tuesday session as headlines continue to push this pair around. The EFSF was rumored to be about to get a 2 Trillion Euro boost, but that rumor has been turned around. The resulting candle for the day is a doji, which sets up a simple trading signal. The EUR/JPY pair continues to sit just over the 105 mark, and looks like it is entering a phase of consolidation as traders continue to digest the possible scenarios coming out of the EU over the next several sessions. Play video >>
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