Eurogroup puts off Greek aid call until November 20 (Barcelona) - The umpteenth Greek parody act gathered most headlines on Monday, a day in which markets in the U.S. were largely unperturbed as Veteran's day celebrations took place.

Judging by the moves in the Euro, with bounces still worryingly shallow, one can not help but notice that today's headlines on Greece were less than meet the eye, as inconclusive statements remain the norm.

Traders seem tempted to continue selling Euros, as questions over where the next immediate bailout money will come from, remain unanswered.

On the Eurogroup meeting from Monday, to make a long story short, EU Chief Jean-Claude Juncker told the press that the decision on Greece's €31.5bn next bailout disbursement will not come until next Tuesday November 20, when they will meet again.

Greece is now trying to avoid a default scenario on a €5 billion debt repayment on November 16. However, EU's Rehn said Greece is expected to roll over its T-Bills on November 16 to avoid default.

IMF's Christine Lagarde noted additional work should be done on Greece's debt sustainability in coming days.

Earlier on the day, one rumour making the rounds was that the European Central Bank had agreed to be more flexible by allowing an extension of its framework so that troubled Greek banks could use emergency money from Greece's national central bank, a common practice in recent times, so that they could raise enough capital to buy short-term Greek paper.

The above news were reported by Reuters, according to information obtained by German daily Die Welt, citing central bank sources. However, as it is typical when leaks or rumours occur, ECB denied that it will accept looser Greek collateral, according to a Bloomberg headline.

As Sean Lee, Founder at FXWW, notes: "Citibank summed the ongoing Greek saga up perfectly, likening it to reading Dostoyevsky’s “The Brothers Karamazov”; it’s long and dull but you’re forced to keep reading in case something exciting happens! The ECB came out to deny reports on broadening Greek collateral and we still don’t know when the next payment tranche will happen and how the Greeks will make it to that date."

In parallel, a draft document leaked by the Troika suggested that international lenders will surely continue to throw money into Greece's bottomless debt hole, with projections amounting at an extra EUR 33 bln by 2016.

According to Fundamental Team, "extra time would necessarily imply to cover financial disruptions of €15 billion during 2014 and €17.6 billion for 2016 and 2017."

Troika's recommendations center-case scenario is that in order for the country to remain in life-support, another two-year extension to fool the market into believing they can reach fiscal targets, is necessary.

In an effort of major honesty, which for once honors the Troika, they also said that risks involved in Greece are very large.

On the EUR/USD flows, amid the irrelevance of the Greece's news to make much good to the Euro, the spot rate remains blatantly bearish below 1.2740, broken point last week, and that corresponds to the 38.2% fibonacci retracement from the 1.2050-1.3172 rally. "The short-term bearish trend remains in control and rallies so far have been very limited" Sean Lee notes.