Markets in Asia started the week with gains thanks to data released in the USA last Friday.The employment situation in the world first economy gained in payrolls. The actual unemployment rate rose to 8.3 percent from 8.2 percent in June.
But the market didn’t needed much to push higher. The improvement in the employment situation gave the market the long waited lift.
No much happened in European markets. The Europeans increased gains made from last week beside no clear signs of progress in the eurozone debt crisis.
Today in Wall Street traders are optimistic about last week plans from the European Central Bank to lower borrowing costs in Spain and Italy. “It might just work” is today’s comments. Wall Street has added more than 60 points and is one of the few indices around the world to be in a positive territory for the year, along with the DAX and the FTSE as best performing markets.
Another boost has come from Bernanke, who said that broad measurements of the economy are pointing to recovery. He also highlighted that households and business continue to struggle with difficult economic and financial conditions. Overall, no hints on further monetary policy but the mood was rather positive.