The Australian equity markets are pointed to solid start to the trading after the US stocks rallied overnight on improving global prospects.
The Dow (see above chart) finished the overnight session up 83 points to finish at 12587 while the S&P500 index gained 8.25 points to close at 1310.25.
The euro rallied to a two week high against both the yen and dollar after Spain continued to sell debt boosting optimism that the region's debt crisis is being contained. EURJPY has traded up from overnight lows of 98.53 to recent highs of 100.00.
The AUDUSD has slid for the first time in three days after a government report showed that employers unexpectedly cut jobs in December.
WTI crude traded down from highs of USD102.08 per barrel to as low as 100.00 per barrel after Natural Gas priced tumbled to their lowest prices in 10 years and inventories rose.
The volatility index which is the best gauge of investor's fears fell below 20 for the first time since June.
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