Oil futures are up 2 bucks per barrel this morning, recouping some of the losses seen late last week as the reflation trade suffered a set back. Emerging markets are helping the outlook near-term as the stability fostered by the Indian elections combined with the promise of more Chinese stimulus if needed help keep alive the notion that the East could lead the West out of recession.
1.3535/45 remains resistance for EUR/USD which reached 1.3514 on its most recent rebound. Prices moved up quickly from 1.3480.
