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Daily Video Recap: Greek Austerity Measures and Postive Data Help Spur Risk Appetite

Featured \ Nick Nasad \ 12:59 PM EST \ March 3rd, 2010
nnasad

The markets took well Greece’s proposal to further cut its budget by as much as $6.6 billion using spending cuts and new taxes. The Euro rallied and broke above the 1.37 level against the greenback. A strong US services report helped US equities to start the session higher and with oil pushing higher as well, risk appetite favored growth-sensitive currencies like the Canadian and Australian Dollars. The Pound was higher against the Dollar as well as it posted stronger than expected data on consumer confidence and services expansion.

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