Investors are thrilled by the comments from European officials and are anticipating big things to happen at the ECB meeting on Thursday. Market sentiment is positive with Asian stock markets surging, following the rally in Wall Street last Friday. Commodities also firmed amid reports that the ECB will re-launch the SMP together with EFSF primary market purchases. It is expected to consider granting the ESM a banking license. The benchmark Comex gold contract ended the week with gains of +2.23%. Crude oil prices lost during the week but the front-month WTI contract closed above 90/bbl for a second consecutive week while the Brent contract settled at a 3-digit level for the third week, signaling a return of market confidence.
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