Futures contracts on the Standard & Poor’s 500 Index with December maturities receded 0.9% from their closing levels on Friday, while the MSCI Asia Pacific Index fell 2.4%, marking the biggest drop in the past four weeks. This week, G-20 leaders will meet November 3-4 in Cannes. This will be the second time in the last 7 days that Europeans will meet with creditors after Euro zone authorities pledged to increase funds in the EFSF to 1 trillion Euros ($1.4 trillion). The Euro zone has already turned to China for financial aid and to the IMF for its cooperation. Nevertheless, French presidential advisor Andre Gueno has refuted talks of offering more incentives to China in exchange for help in resolving the Euro zone debt crisis. DT Trading political analysts believe that the French presidential administration’
The European Central Bank, under the leadership of new head Mario Draghi, will decide whether to change its interest rates this week. DT Trading analysts insist that there is a very small chance that Draghi will call for lowering the refinancing rate, which has already been raised to 1.5% this year, at his first meeting in his new position.
DT Trading Limited Analytical Department
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