Greece Bailout Rumors Continue To Swirl

Daily Forex Fundamentals | Written by AC-Markets | Feb 10 10 11:14 GMT |

Market Brief Stocks rallied, with emerging-market equities recovering from the worst three-day slide in a year, and the EUR and commodities gained as European officials said they were considering financial assistance for Greece (but since has been heavily refuted). The S&P 500 Index rose 1.3% while the MSCI Emerging Markets Index increased 1.9% after falling 6.1% in the past three sessions. The EUR strengthened the most in more than five months against the USD, snapping four days of declines, and ended a three-day drop against the JPY. Oil, copper and aluminum surged at least 2.2% to help lead gains in commodities. The S&P 500 erased yesterday's 0.9% drop and the DJIA rallied above 10,000, increased 150.25 points, or 1.5%, to 10,058.64 for its biggest gain since Nov. 9. The EUR climbed as much as 1.4% against the USD, its biggest gain since Sept. 8. The EUR appreciated 1.4% versus the JPY and 0.2% compared with the GBP. US wholesalers unexpectedly fell in December after the biggest increase in more than five years, indicating distributors had trouble keeping up with demand. The 0.8% decrease in stockpiles followed a revised 1.6% gain in November that was the largest since July 2004. ACM FOREX Disclaimer: This report has been prepared by AC Markets (thereof ACM) and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Salesperson or Traders of ACM at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.