The Australian equity market is pointed to a mixed start to the trading day after US stocks ended flat in choppy trading conditions as investors were quick to take profits after the Greek bailout package was agreed.
The Dow finished the trading session up 15.82 points at 12965.69 while the S&P500 index closed up 0.98 points at 1362.21.
The euro has traded down from overnight highs of 1.3294 to lows of 1.3200 after the Euro zone finance ministers completed a 130 billion bailout for Greece to avoid a default in March, in the deal private bondholders will take a greater loss while the Greek government will commit to deep cuts across the board.
Gold (see above chart) has advanced the most in more than three weeks as agreement on a bailout package for Greece boosting commodities in general. Gold traded up from lows of 1736.25 to recent highs of 1759.95.
WTI crude oil rose to a nine month high due to the after the confirmation of the Greek bailout package coupled with the ongoing issues out of the Middle East. WTI crude gained over 2 percent to finish the trading session at 106.14.
The Volatility Index which is widely considered the best gauge of fear in the market has finished the session on its highs of 18.70 after trading as low as 17.66.
SPI 200 future
FTSE 100 Index