• EUR gaps higher in early trade on EU emergency fund
  • Details have yet to be confirmed but the measures seem to be substantial
  • With words like ‘wolfpack’ being used to describe speculators, we can expect more talk on financial market reform in coming days and weeks also
  • Merkel suffers losses in German NRW elections
  • Tory/Lib Dem deal looking more likely in the UK
  • EUR crosses gap higher in very illiquid markets. EUR/JPY rejects attempts to regain 120.
  • S&P futures trading over 1.5% higher which should bolter Asian markets