2010-07-23
Market Report – 23 July 2010
» Financial Markets surged overnight as Fed Chairman Bernanke reassured markets that the Fed is prepared to take further steps if the economic situation and the labour markets worsen
» Better than expected US Existing Home sales and a rise in UK Retail Sales also contributed to the positive sentiment in the market with equity markets higher by approximately 2% - Dow Jones closing at 10,322
» Risk currencies performed strongly overnight with the Aussie surging to new 2 month highs.
Results of the European Banking Stress test will be released tonight which should give further direction to the Financial Markets.