by Chris Becker
Risk markets, particularly in Europe exploded last night even as German factory orders tumbled, European consider confidence weakened further and the BOE held fire on interest rates and its own QE program steady. It was news out of the ECB that stimulus measures are all but certain to be announced at the January 22nd meeting. The Eurostoxx 50 index closed up nearly 4%!
This was mainly lead by the French CAC40, up 3.6%, and the German DAX30 up 3.3% bouncing off its daily trendline, but about to hit overhead resistance at the Christmas/NY highs:
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