The euro has steadied a low that has been prevailing since almost two years now. Reports on Thursday stated a fall in the shares of Europe and raised concerns over the outlook of global growth. These rising concerns have sapped the appetite of the investors for the risk assets that has already been hit by clear lack of clues on the possible stimulus measures of the United States.
After the European markets closing sharply high, the investors hope that the European Leaders will come to an agreement on a package with measures addressing the entire region’s debt crisis. They are meeting for a summit which is going to be held on the coming Wednesday. With DAX Germany rising to 3.6 percent, CAC France rising to 4.0 percent and FTSE MIB Italy rising 2.8 percent, it seems that the hope wave is catching speed.