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European Futures Higher On Fiscal Cliff Hopes

ByAvaTrade
AuthorDavid M. Frank
Published 12/17/2012, 05:54 AM
Updated 02/02/2022, 05:40 AM
EUR/USD
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DE40
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ACBr
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NBGr
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European Markets suggest a higher open as there are some hints at a compromise over the U.S. Fiscal Cliff crisis.

The CAC is up 2 points, the FTSE is called up 4 points and the German DAX points to a 32 point increase at open.

Republican John Boehner has said republicans will accept a tax increase for the wealthiest Americans. This is removing a key obstacle towards a pending solution. In Japan, the conservative ex prime minister, Shinzo Abe will have a second chance to lead the country. The Liberal Democratic Party, is expected is committed to being tough with China over territories as well as a “hyper-easy” monetary policy to combat deflation and bring down a strong yen.

In Europe, the Finnish Minister for European Affairs is saying the EU could have more to do with regards to bailing our troubled member States. "We are always trying to end the bailout policy in all its forms," Stubb said during an interview. He also stated that, "If the situation calls for it, there might be countries that need help in some form."

In earnings today, Alpha bank and National Bank of Greece are set to release interim earnings results. In Sweden, clothing retailer, H&M will post Q4 earnings.

The EUR/USD has broken above it s important resistance level at 1.3130. We see good support at 1.3050.

DISCLOSURE AND DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Reader.

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