29.11.201013:57 Forex Analysis & Reviews: Fundamental Analysis, November 29, 2010

A mixed trend has been detected this morning in the Asian stock market due to the confirmation of an 85-billion dollar aid package for Ireland and the tensions in Korea. As such, the Tokyo stock exchange rose by 0.7%, the Hong Kong exchange strengthened by 0.2%, the Taiwan exchange advanced by 0.6%, the Shanghai exchange dropped 0.5% and the Singapore exchange by 0.3%, whereas the Seoul exchange dived 0.9% due to continued tensions in Korea.

In Europe, the Finance ministers of the Eurozone countries have confirmed yesterday the transfer of an 85-billion Euro aid package for Ireland, this in order to prevent the country from reaching a default and thus to stop the expansion of the European debt crisis. Ireland will receive 67.5 billion Euros from the EU, whereas the remaining 17.5 billion dollars will come from the IMF's pension fund.

The price of crude oil actually strengthens as a result of the approval of aid to Ireland, which expected to support the demand for black gold. Crude oil January futures are trading around 84.20 United States dollars for one barrel of oil, forming a 0.6% rise at the New York Commodities exchange.