Kathleen Brooks of FOREX.com notes the euro has rallied as risk is back on in financial markets but cautions against any sustained move given ongoing uncertainty.
Talk of a tighter fiscal union in Europe helped end a seven-session losing streak on Wall Street last night, while retail sales saw a boost. Dow up 291.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
Peter Switzer of the Switzer Super Report discusses the chances of a Santa Rally for global markets.
FOREX.com’s Kathleen Brooks suggests a disappointing German bond auction implies investors are becoming more cautious cleaning up the sovereign debt crisis will weigh on Germany’s finances.
A disastrous bond auction in Germany indicates the world does not want to pay to be the saviour of Europe. Dow down 236.
Kathleen Brooks of FOREX.com suggests markets are likely to be range bound for some time, but the recent heavy sell-off may see some short-term buying emerge.
The IMF announced liquidity measures to help stem European inflation while the Fed is still holding off on QE3. Dow down 53.
The US budget committee appears destined to fail to reach agreement by the deadline as European bond yields continue to rise. Dow down 255.