The optimism could continue containing the current market sentiment after the Japanese promises of buying European bonds this month by a successful Portuguese auction driving the single currency up above 1.31 after it has started the week under the pressure of rumors about European efforts to convince Portugal to join the bailing out package following Ireland to reach 1.2873 versus the greenback but the Portuguese denying of the need for this made package by European countries and the IMF could help the single currency to rebound underpinned by new Japanese pledges of buying European bonds following  china which has done the same to restore market confidence in the European debt markets driving the market risk appetite up amid increased market expectations of better US earning reports to come showing improving in the fourth quarter of last year which weighed negatively...

Despite the lower than expected non-farm payroll release which has just 103k while the market was waiting for 135k to be added in December, the greenback was well-supported by the rising of its bonds yields which have started to trigger the treasury and the Fed worries recently as the economy seems in better shape now and there is a limited probability of adding new funds from the Fed with the current improving of the economic data while the budget deficit is still going larger and the call of raising the taxes are increasing even from the former Fed's Chairman Mr. Alan Greenspan.

The commodities currencies are still underpinned by the market expectations of demand rising in the New Year with the US adopted easing policies which are not expected to be end soon supported by the Chinese decision of lowering its exports of the rare metals. The Canadian dollar has reached parity with the greenback while the Aussi is trading above 1.02 currently. The demand for oil also is widely expected to rise from another side because of the bad cold weather in US, Europe and even in China which watched degrees below -30 this year. The oil has ended the last year also well supported by shortage of the US inventories of the crude by another 2.3m barrels after  5.3m barrels a week earlier while they were forecasted to be just 1.5m barrels of declining which is still giving a potential high outlook of the prices in the new year which is looking having better economic outlook to the investors after last Thursday up beating data which have shown rising of US December Chicago PMI to 68.6 while it was waited to be 61.5 from 62.5 in November which show that we can...

The Single currency could find buying in very quite sessions after breaking above 1.317 versus the greenback and it is trading above 1.32 currently helped by light volumes in thin trading sessions to correct some of its recent loses by the year end as technically the light volume helping the profit taken but the market sentiment is still looking unchanged after shrugging off the China's decision of hiking the interest rate 25 basis points as it looked pricing in the market but after the Asian stocks market were mixed in the beginning of the week after the Christmas decision, they came under pressure today but the European equities markets are still looking unfazed of these loses trading very quite with no materialized change of the risk appetite.