Hi Everybody,
Hope you had an amazing weekend and ready for a very exciting week in the markets. In just a few hours Prime Minister Mario Monti of Italy will be meeting with Prime Minister Rajoy in Spain. The two largest debt countries are considering to work together to ask for a joint bailout from the ECB.
The European Central Bank has already promised both countries as much as they need, but only if they meet harsh restrictions to their future budget. By working together they hope to reduce the interest rates and required austerity measures.
The joint effort is certainly in the Interest of Spain, who is seen to be the worse off of the two. And of Course we know PM Rajoy will always do what is in Spain’s interest. Mario Monti’s personality, situation, and motives are a bit different, so it will be interesting to see what he does.
Hurricane Sandy is currently pelting the East Coast of the United States after claiming the lives of over 60 people in Jamaica and Cuba. The New York Stock exchange will be closed today as the people there hunker down and pray for the best.
Execution of individual stocks in the eToro platform will be suspended today due to the natural disaster. Commodities and stock indexes during the US session today will either be very quiet or very loud.
Lastly, there’s only 3 days left to claim the Premium Bonus code for October. So for the premium members who did not yet claim it, please Email me and I’ll send you the code. If you’re not sure about your account status, let me know and I’ll be glad to discuss. Let me know if you would like to discuss any of the above points, if you have any further questions, or require any assistance in your account.
Happy trading,
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