Asia Session – October 9, 2011 11:36 PM

The first Asia session of the week got off to a bit of a slow start.  Little over the weekend news combined with a Japanese holiday, made the markets seem somewhat tame.  However, the session wasn’t without any action.  Anything regarding the closely watched situation in Europe has been getting a reaction from the market lately and today was no different.  After statements from Angela Merkel and Nicolas Sarkozy  suggested that they would have a plan to recapitalized troubled European banks and have an organized and executable plan for Greece, EURUSD attracted buyers quickly.  The pair traded bid for most of the session.  After opening around 1.3380, two separate rounds of buying pushed the pair through 1.3460.  The market will likely continue to be sensitive to European woes for the foreseeable future. Full text »

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