The statements made by Italian Prime Minister, Mario Monti have slightly boosted the euro which had been reaching new lows day after day for about two years.

The president said that most European leaders gathered on Wednesday night in Brussels supported the sale of bonds issued by the eurozone, known as Eurobonds.

These statements resulted not only in moderate growth of the euro and other leading currencies, but also lowered the cost of debt of France and Spain at the time. It is necessary to balance trust deeds and not in good intentions, as has been occurring recently in Europe. Monti has added that certain measures will enable to return to confidence markets.

However, the Forex market does not leave a lateralization caused especially by the uncertainty surrounding the situation in Europe. As an example and since this report is made always at the same time, the prices of at least 6 of the 8 major currency pairs are on the same levels it is possible that the pound sterling fell again, like the euro and the franc. But it is clear that investors expect more clear signals from Europe to make decisions.

The situation on major financial stocks this week is still controversial, as oil reached its low since last November, and lost the $ 90 barrier. Again, threes facts forecast historical records of oil reaching $ 110 in March, irrespective of the fact that things in the world were not as well as for a bubble of that nature be maintained over time.

And as for the next few hours? What can happen? We believe that the situation will not change too much. We can observe a tepid recovery on the markets for those of Monti, although European stock markets, while Friday's session average, have failed to operate with significant gains and the Dow Jones index futures remain bullish very fragile.

The euro has passed the1.2640 area, which is a key level of the long-term uptrend and for sustainable recovery. It coincides with the arrival of the pound to 1.5750 area, and the Australian dollar to 0.9850. The aussie also accompanies a warm recovery of gold.
The schedule includes daily news of the United States and review on the consumer confidence data released by the University of Michigan and Reuters news agency at 9:55 Eastern.