Daily Market Review 26 of June

After another negative session in Europe and the U.S, It looks like the equity markets have not fully completed their last bearish (negative) cycle. Today’s Asian session was not a positive one as well with the main Asian index dropping up to 1%.


Investors are waiting to hear for developments and decisions with regard to a bailout package in Europe from the coming European summit this Thursday. As expected Spain and Cyprus have each requested a loan from the European funds in order to support their banks which were over exposed to the poisonous assets which crashed at 2008.


Key fundamentals to watch today:


9:00 U.K Inflation report.

14:00 U.S consumer confidence.

14:00 U.S Richmond Fed index.


Technicals


The Oil is reaching it long term support at 78.5$ and 76$ short term buying on this levels for expiries of 15 to 30 minutes could be considered on this levels.