European stock were mostly flat until it was revealed that Portugal was given more time to reduce its deficit. By the end on the section a further push came after the USA declared a lower deficit than analyst’s expected.
The news helped the markets to reach for new heights. Wall Street is certainly positioning to break about resistance level.
Investor believe that data released to the market will influence the Fed decision to commit to revive the sluggish economy. An announcement is expected on Thursday afternoon. With this in mind, the USD currency lost ground as any monetary help from the Federal reserve will put pressure on the greenback.
In Europe, a decision is also expected in Germany. Its high court will rule on whether Germany can get involve any further in the European bailout fund. No body expect a negative resolution. It will disastrous, as the rest of Europe may not be able to afford the European bailout fund.
Investor are bullish, and betting that the market will enter a new phase of the global recovery.