Market sentiment was mixed yesterday as good and bad news related to the sovereign debt crisis surrounded the market. On the positive side, China reiterated its confidence in the Euro and pledged to increase reserve holding in the Eurozone. However, this was then upstaged by reports that approval of the full Greek rescue package could be delayed until after the April elections. The US economic indicators were encouraging. However, this failed to boost sentiment. In the oil market, prices were supported as Iran said it would stop crude exports to Greece, Italy, Portugal, Spain, France and the Netherlands.
Excerpt from:
Sentiment Mixed as Greek Package Approval Delayed
Leave a Reply
You must be logged in to post a comment.