Analysis details (10:29)
- Markets have reacted well to the more positive tone over the US fiscal cliff, following talks with US President Obama and House Speaker Boehner on Friday. In Asia the Nikkei closed up 1.35%, Shanghai up 0.11% which has spilled over into Europe where the Dax and Cac are both up over 1%.
- WTI crude futures have touched 2 week highs on the continued troubles in the Gaza strip. However since the European open WTI has traded sideways holding onto gains just shy of USD 1.00 trading at USD 87.80
- One newswire put the session high in EURUSD down to unsubstantiated market talk of a potential rate cut from China which led to USD weakness. The USD index currently trades down 0.16% at 81.03 and EURUSD trades up 33 pips at 1.2774.
-Markets shrugged of the poor Spanish bad loans data and Moodys comments that it sees the European Commission's upward revision of Spain's deficit targets as credit negative.
19 Nov 2012 - 10:08 - - Source: RANsquawk
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