Stocks Post largest three day rise since 2009 $NZDUSD

Last Updated on Thursday, 01 December 2011 09:36
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  • Six central banks led by the Federal Reserve eased the cost of borrowing for banks to borrow dollars in emergencies in an effort to ease Europe’s sovereign debt crisis
  • The Central Banks of the U.S , Euro region, Canada, UK and Switzerland agreed to cut the cost of funding via swap arrangements
  • Stocks rallied strongly, commodities surged and yields on most European debt fell
  • The MSCI All Country World Index climbed 3.4% for the session and is up 7.4% for the past three sessions
  • The US Dollar weakened against all 16 major peers with the Euro up 1% to 1.3443. The AUD rallied above 1.0200 to a 1.0331 high
  • Oil rose to a two week high as futures climbed above USD $100.00 per barrel with NYMEX spot trading to a high of USD101.75 p/barrel
  • Spot gold rallied in line with higher appetite for risk trading up towards USD $1750.00 per ounce
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