(menafn – ecpulse)
With the end of a low-volume session yesterday, another session is to start with the return of German, French and Swiss banks in addition to the worlds largest economy, which was away for Memorial Day Holiday. As the European session is about to start, we can see that European equity futures are trading positively, while stocks are called to open higher, supported by the cheerful Greek news, where the nation handled the four largest Greek banks around 18 billion euros of aid, in steps to recapitalize the banking sector in Greece, which is a part of the international second bailout deal.
Moreover, we clarify that the incline seen today is an extension of the bullishness seen yesterday, where the sentiment improved in the prior session after Greek new polls showed that Greeks returned to vote for pro-bailout parties despite the austerity associated with the second bailout deal, noting that Greeks scared following the warnings of the consequences of a Greek exit.
Today, markets will be tracking the fundamentals from the old continent and U.S., mainly inflation data from Germany, the largest economy in the euro zone, and consumer confidence data from the largest economy in the globe.
The euro declined slightly against the U.S. dollar with the start of the session today, where the EUR/USD pair is currently trading around 1.2582, down from the opening level of 1.2540. The pair recorded so far the highest at 1.2547 and the lowest at 1.2507.
The sterling pound returned to trade within a tight range around the opening level of 1.5677, after recording a high of 1.5684 and a low of 1.5653, especially with the lack of major fundamentals from the royal economy today.
The shiny yellow metal added slight gains ahead of the European session, where gold is currently trading around 1575.38 per ounce, slightly above the starting level of 1574.40 per ounce. Among other commodities, crude oil rose a bit to trade now around the highest level recorded at 91.42 per barrel.
European main equities are positive as the opening approaches, where the French CAC 40 futures added 0.58% to 3038.50 points, while the German DAX futures advanced 0.75% reaching 6383.00 points in total and finally the British FTSE 100 futures reached 5361.00 points after adding 0.38%.
