By FX Empire.com
As investors await the EU summit set for Oct. 23rd and will be continued on Oct. 26th, sentiment is mixed, and caution prevails, as European leaders are struggling to reach a deal to ease the debt crisis.
Some gains were seen in the stock markets this morning after as European Union leaders are accelerating talks on how to combat the debt crisis and consider deploying 1.3 trillion dollars to end this agony ahead of the summit.
The MSCI Asia Pacific Index rose today by 0.2% at 15:03 inTokyo, while in Europe the FTSE 100 rose as of this writing by 0.40%, DAX rose 0.30% and CAC 40 gained 1.03%.
The German and the French leaders seam to be committed to adopt a “comprehensive and ambitious” plan to address the debt crisis, thereby investors started feeling some optimism.
Today Germany released today its IFO survey which had a better than expected outcome yet lower than the previous, whileUKrelease witnessed a fall in the public sector net borrowing during September.
And while the US will lack the fundamentals for today, the markets will be driven by the sentiment built inEurope. Thereby the dollar index is trading as of this writing around the 76.88 level, while the yen is stronger trading around 76.70.
The euro is almost unchanged around the 1.3780, while the pound ins trading with a slight upside momentum around the 1.5800 level. The AUD is almost unchanged at 1.0235, and the CHF is stronger trading around 0.8910.
The uncertainties are keeping the commodities in very tight ranges today, awaiting for more confirmation to embark in a clear direction, thereby crude oil is trading around $86.35 per barrel and gold is trading around $1624.30 per ounce.
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