MidSession Review: Waiting for News to Hit the Tape

A green light to the Greek government's 2013 budget from the Athens' parliament had a little impact on the euro and on the overall market:

• The common currency traded 0.06% higher versus the greenback to 1.2722$
• The Stoxx50 traded 0.03% lower to 2,479.16, the German Dax rose 0.33% to 7,186.82; in Southern Europe: the Spanish Ibex led losers down 0.80% to  7,575.40 while the Italian Ftsemib rose 0.34% to 15,232.21.

The uncertainty over the Greek aid talks and the US fiscal worries supported German government bonds, with German 10-year yields steady at 1.34 percent, while Spanish peers were 5.3 bps higher to 5.875 and Italian comparable was 3.9 bps higher to 5.005 percent.

Commodity wise Gold futures edged higher 0.19% to 1734.10$ an ounce while Oil Crude for December futures traded 0.15% higher to 86.20$ a barrel, both dollar denominated assets' supported by a weaker dollar.

The broader Stoxx50 futures for December delivery traded  in a 21 points range up to now, signalling that traders are all at the window waiting for news coming from the EU Finance Ministers Meeting to hit the tape.

For what it may concern our daily game plan the $FESX_F flirted with our 80 resistance and up to now it has been unable to break through,  any move near the resistance wasn't followed by any confirmation in the $EURUSD and therefore we were left on the sideline.

We will respect the minute of silence for all US veterans at the US opening bell.

Originally posted at www.77sigmatrading.com