Best Financial Markets Analysis Article The big weekend European summit has passed largely without a major agreement on the two potential models to expand the financial firepower of the European Financial Stability Facility. Focus has now shifted to Wednesday's joint EU and Eurozone summit which is supposedly the deadline for tangible plans being produced. What price on this deadline slipping with more hazy plans put out in the interim?

Markets are still willing to buy on optimism S&P 500 futures are up another 0.25% this morning after successfully holding the 1200 level last week.

'Risky' commodity currencies are pushing higher with the AUD/USD and NZD/USD up around 0.40%.

European currencies are largely unmoved this morning with the EUR/JPY flirting with the 106 level this morning. The GBP/JPY is also testing the 122 level from below.

Gold held the $1600 last week, but still is still stuck in a range between the $1700 and $1600 levels.

This morning sees the release of various European flash manufacturing and PMI data points.Markets appear to be looking at the glass as being half full at the moment, but nothing in European politics is ever as straight forward as it could or should be. Markets have rallied on the hope/ expectation of a successful resolution of the Eurozone crisis, but there could be some road bumps before the big summit meeting on Wednesday. The NZD/USD can be a good way to play exaggerated moves on global confidence due to its high yielding interest rates and might offer better risk reward than the EUR/USD ironically.The traders at Betonmarkets.com believe that there's no guarantees that there will be disappointment this week, but if there is, the NZD/USD could be a good pair to be on. A good way to play this might be a LOWER trade predicting that the NZD/USD is below 0.8025 in a day time for a potential return of 166%.

Summary:

Dave Evans
Email: editor@my.regentmarkets.com
Url: www.BetOnMarkets.com

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Disclaimer: The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Do your own due diligence.

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