The Financial Fixed Odds update from David Evans, Market Analyst, BetOnMarkets.

Yesterday the Dow Jones (Wall Street) closed at its lowest level since November, losing over 4% in just two days.

There was no particular catalyst other than a lack of good news to spark the buyer’s interests.

The Aussie dollar also endured a hard day, slumping to its lowest level since July.

However, overnight markets have recovered with the Australian Dollar/US Dollar spreads up by 1% in early trading and stock markets set for a healthy bounce (US stock markets that is, Europe will still be playing catchup with the late session sell off).

Late comments from Fed Chairman Ben Bernanke appear to have added some much needed enthusiasm, though it may just be short term traders stepping in to buy the at these over sold levels.

Yesterday, Gold made a push for its all time high levels of $1249, reaching $1244 at its peak.

The yen and US dollar are trading lower as risk appetite pushes money back into the euro, kiwi and principally the Aussie dollar.

There isn’t much economic data to chew on today again with German Industrial production at 11.00 and Canadian Housing starts at 13.15 the standout news items.

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