Exxon Mobil has agreed to buy XTO Energy, a natural gas company, for $41 bln in an all stock deal. This may spark some equity buying on Wall Street, and potentially giving the risk trade a lift. This morning’s partial bailout of Dubai combined with the Citigroup TARP deal may give markets a bit more confidence.
EUR/USD is consolidating in the 1.4640s amid reports of buying toward 1.4630 by the Bank for International Settlements, the central bankers central bank.