We will know very soon with the EU Leaders Summit scheduled for 6pm local time (12:00pm ET) in Brussels and the Euro-area Leaders Summit at 7:15pm local time (1:15pm ET) exactly how much progress has been made.
The euro sold off initially when the news broke but has since recovered all of those losses and managed to hold onto to its recent gains against the U.S. dollar. The recovery in euro suggests that investors remain optimistic that EU Juncker is speaking the truth when he says he sees a “final, even groundbreaking decision” tomorrow.