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European bank pledge lifts markets in early trading

Stock-Markets / Financial Markets 2011 Oct 10, 2011 - 02:52 AM GMT

By: Regent_Markets

Stock-Markets

Best Financial Markets Analysis ArticleThe weekend's pledge from Germany's Merkel and France's Sarkozy has been taken as a sign that the Eurozone finally has the will and the unity to get to tackle the crisis. There is increasing belief in the optimistic view that Greek default will be contained by full support of European banks. This comes as French and Belgian authorities guarantee 90bn euros of Dexia debt.


The euro is leading markets higher with the EUR/USD up 0.75% and the EUR/GBP up 0.55%.

Commodity currencies are also enjoying a rebound with the AUD/USD up 0.64%, the NZD/USD up 0.50% and the USD/CAD down 0.55%. Gold is up around 1.00%.

Stock market futures are rallying after suffering a post payrolls sell off which saw the main US markets close down around 0.75%.

We've a light economic data day today with the US and Canada observing public holidays.With the light economic data calendar, today could be a good day to step aside, but if you were looking for a trade, the USD/JPY might offer an opportunity with its range bound characteristics. A IN/OUT trade at Betonmarkets predicting that the USD/JPY closes tomorrow inside of 76.50 and 76.80 could return 139% if successful.

Dave Evans
Email: editor@my.regentmarkets.com
Url: www.BetOnMarkets.com

With BetOnMarkets, you can trade an ever increasing list of globally traded stocks, indices, commodities and forex currency pairs from one account using a uniquely LOW RISK trading platform that lets you lock in your level of risk and exact return BEFORE you commit to a trade. You can bet on over 100 currency pairs, indices, commodities and stocks with bets ranging from 30 seconds up to 360 days. You can fund your account with as little as $5 and bet for just $1 and its unique "fixed returns" service means you know exactly how much you stand to win or lose before you commit any money. If you are looking for a low cost, low risk way to participate in the markets, then BetOnMarkets is for you. Check us out now at www.BetOnMarkets.com

Disclaimer: The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Do your own due diligence.

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