2012-05-08
Market Report – 8 May 2012
- Markets bounce solidly from the lows as traders figure European selldown overdone
- Euro pushes towards major resistance at 1.3080 before reversing
- Aussie dollar lower after trade balance misses expectations
- Dow recovers in overnight trading with the index down just 30 points despite EU concerns
- Gold steady, but crude sharply lower. Crude now down by 10% over three sessions
- Australian budget, due tonight, seen as slightly bearish for Aussie dollar