European equity markets slipped overnight as the Eurozone debt crisis remained in focus after finance ministers meeting in Luxembourg yesterday which added Cyprus to the list of countries that requires a bailout.
Mario Daghi is currently addressing the conference, and we have seen the Eur/Usd and equity markets slip back from earlier highs. Coupled with this the outlook for the global economy is likely to remain in the spotlight after the
International Monetary Fund on Tuesday cut its 2012 global growth forecast to
3.3 percent from a July estimate of 3.5 percent.
As the Eurozone comes back into the spotlight traders will be looking for entry levels around the 1.2900 -1.29100 levels, if previous weeks are to go by we have seen support from middle eastern buyers at these levels, so keep an eye on the bounce.
Happy Trading
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