Kiwi Powers Ahead, Euro Barely Up Amid Swirling Bailout Rumors
Agreement on a fiscal accord for the Euro-zone was announced; though with no Greek debt swap deal in place yet, market participants remain cautiously optimistic. Considering the proposed measures do not address any of the current structural issues plaguing the Euro-zone, this is a rally to be sold.
Euro Optimism Fizzles Amid Greek Impasse, Short-Term Reversal Ahead
Increased efforts to address the sovereign debt crisis encouraged risk-taking behavior on Tuesday, but the rebound in market sentiment is likely to be short-lived as the heightening risk of a Greek default bears down on investor confidence.
Crude Oil, Metals Gain as Risk Appetite Recovers But Rally Vulnerable
Crude oil, gold, silver and copper prices are rising as a pick-up in risk appetite weighs on the US Dollar but the move higher doesn’t seem to have staying power.