Today, the sentiment improved in the market as investors are weighing the results of the European summit positively, where all eyes were focused on Europe to solve the debt crisis, which could support growth and the pace of recovery to return on the right track, especially when the debt crisis triggered the global slowdown and still threatening the global economy. The euro inclined today to recover most of the losses incurred yesterday, supported by the results of the European summit, where after all European leaders were able to finalize the fiscal integration... 

News and Events: Risk appetite was firm in Asian session as the FT produced an article suggesting that the next LTRO could find demand of up to €1trn. If this is correct it would all but eliminate concerns that European banks could face a near term liquidity crisis. Optimism continues to grow despite the fact that Eurozone summit yesterday brought no real progress on the Greek debt crisis. There is a growing sense that European policy makers are running out of new strategies but reaction was muted. EURUSD was able to rally to 1.3200 on the growing optimism... 

USD/JPY Open 76.36 High 76.78 Low 76.17 Close 76.33 On Monday Dollar/Yen continued decreasing with 55 pips. The currency couple depreciated from 76.78 to 76.21 yesterday, not matching the positive Interbank sentiment at bellow +18%, closing the day at 76.33. This morning the Dollar weakened slightly further against the Yen, reaching 76.17. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart quotes are testing the lower limit of the trading range. Break above yesterday’s top and nearest resistance 76.78 would encourage further... 

GBPUSD: Having reversed its Monday losses in early trading today on a strong rally, the 1.5770 level, its Dec 21’2011 high looks to be taken out. That level is very significant to GBP’s continued recovery which was initiated from the 1.5235 level. An eventual clearance of there will set the stage for further upside price extension towards the 1.5885 level, its Nov 18’2011 high. Above here will aim at the 1.6074 level, its Nov’2011 high. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support... 

The greenback is broadly higher as risk sentiment declined amid EU debt concerns and weak U.S. personal spending figures. The USD is firmer against all of its G10 counterparts except the Japanese yen which is outperforming as a haven. USD/JPY fell to lows that have not been seen since the Bank of Japan last intervened on October 31 European leaders met at today’s EU Summit and 25 countries agreed to join a fiscal compact which limits primary deficits to 0.5% of output with automatic sanctions on member states that have deficits greater than 3%. There...