Asian Markets are set to open the trading day higher as US stocks rallied in the
afternoon after reports that Italian Prime Minister Silvio Berlusconi plans to resign after the country’s 2012 budget vote. The markets see the resignation as a breakthrough in the political impasse.
Overseas stock markets were trading lower after the Berlusconi won a budget vote, however did so without the majority of the parliament, re-igniting fears that the Prime Minsters government no longer remains in power.
The Dow (see above chart) rose 101.79 points to close the session at 12170.18.
The EUR/USD moved higher after the reports of the Berlusconi resignation, rising back above 1.38 after trading as low as 1.35250 in trading yesterday. The Euro was last trading 1.3835.
WTI Crude continued its march towards $100 barrel as higher demand forecasts from key oil producers, the euro zone’s ongoing debt crisis and concern over Iran’s nuclear program as well as growing tensions in the Middle East put prices on track to log a fifth-straight session of gains. Gold rose back above the $1800/ounce market before being sold off. Comex gold futures closed the day down at 1785.
afternoon after reports that Italian Prime Minister Silvio Berlusconi plans to resign after the country’s 2012 budget vote. The markets see the resignation as a breakthrough in the political impasse.
Overseas stock markets were trading lower after the Berlusconi won a budget vote, however did so without the majority of the parliament, re-igniting fears that the Prime Minsters government no longer remains in power.
The Dow (see above chart) rose 101.79 points to close the session at 12170.18.
The EUR/USD moved higher after the reports of the Berlusconi resignation, rising back above 1.38 after trading as low as 1.35250 in trading yesterday. The Euro was last trading 1.3835.
WTI Crude continued its march towards $100 barrel as higher demand forecasts from key oil producers, the euro zone’s ongoing debt crisis and concern over Iran’s nuclear program as well as growing tensions in the Middle East put prices on track to log a fifth-straight session of gains. Gold rose back above the $1800/ounce market before being sold off. Comex gold futures closed the day down at 1785.
| INDICES | |
| Last Traded | |
| SPI 200 future | 4338 |
| S&P500 Index | 1275.92 |
| Dow Jones | 12170.18 |
| FTSE 100 Index | 5567.34 |
| COMMODITIES | |
| Last Traded | |
| Gold | 1785 |
| Oil (Nymex) | 96.99 |
| CURRENCIES | |
| Last Traded | |
| AUD/USD | 1.0382 |
| EUR/USD | 1.3835 |
| GBP/USD | 1.6095 |
| USD/JPY | 77.75 |