Opening Comment 02.10
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Daily FX
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22 minutes ago A mild correction in the markets is underway, with traders content in buying back into currencies and risk on Tuesday.
Greece rescue talk supports stocks
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Reuters
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2 hours, 50 minutes ago Asian stocks rose on Wednesday after reports that Europe was close to bailing out debt-strapped Greece, coaxing investors back to riskier assets, though uncertainty kept a lid on the euro.
Dollar Retreats as Rumor of Financial Aid for Greece Jump Starts Risk Appetite
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Daily FX
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Tue 8:37 pm ET âEuro¢ Dollar Retreats as Rumor of Financial Aid for Greece Jump Starts Risk Appetite âEuro¢ Euro: A Greek Bailout Could Stabilize Short-Term Risk Appetite but would it Stabilize the Economy? âEuro¢ Japanese Yen Preoccupied with Risk Flows but Fundamentals Still a Long-Term Issue âEuro¢ Australian Dollar Could Keep its Hawkish Policy Advantage as RBA Steven Supports Higher Rates
Wall St rises on reports of help for Greece
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Reuters
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Tue 5:52 pm ET The Dow posted its largest one-day percentage gain in three months on Tuesday, boosted by reports of an aid plan for heavily indebted Greece.
Dollar slides on hopes for debt help in Europe
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AP
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Tue 4:51 pm ET The euro extended its rise against the dollar for a second day Tuesday as hopes grew for a solution for helping several European countries manage their deficits.
Oil Supported by a Sharp Rebound in Risk Appetite on Speculation of a Greek Bailout
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Daily FX
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Tue 4:46 pm ET A clear sign that risk appetite is still the dominant fundamental driver for crude traders, oil futures trading on the NYMEX exchange rallied mid-day in the New York trading session along with many other risk-sensitive securities on heightened speculation that Greece would be bailout by either the EU or Germany.
EU nations' reality: Greece's woes are theirs, too
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AP
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Tue 4:38 pm ET Wealthy European nations were moving closer toward swallowing a bitter pill Tuesday: rescuing Greece from its own overspending to stop its debt crisis from dragging down the euro and stock markets all the way to Wall Street.
Orange juice, sugar prices rise on falling supply
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AP
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Tue 4:36 pm ET Sugar and orange juice prices rose Tuesday after the Department of Agriculture's latest report predicted smaller supplies of the crops than previously estimated.
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