Global Stock Markets Rise

The FTSE 100 and other markets rose today, after broad overnight gains in Asia and on Wall Street.  After good US housing data was released on Wednesday, investors took the excuse to head back to riskier assets such as the Australian dollar.  The US dollar index .DXY broadly lost ground as investors crept out from its protective cover.

In Australia it was the big banks which led market gains while in Europe it was mining and energy shares that led the way  – better sentiment drove commodity prices up.

Even the euro managed to make some gains against the broadly weaker Japanese yen and US dollar – enjoying less negative attention than it has become used to of late.  Some analysts do warn that the euro’s battering is not over just yet and indicate that some traders were merely looking to trim their euro selling.

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