Markets in a better place overnight helped by a number of events. German Chancellor Merkel's hints late Wednesday that a deal on Greece may be struck when finance ministers reconvene Monday started the ball rolling. Then came a strong close in the S&P above its 200DMA, an Israel-Hamas ceasefire and the HSBC China manufacturing PMI bouncing back into expansion territory with a 50.4 print. EUR/USD managed a fresh two-week high and USD/JPY yet another fresh seven-month high. For Thursday, all US markets are closed for Thanksgiving, early focus is on euro-zone flash PMIs where some stability is expected. If that is the case then EUR/USD may be able to break topside from the 2 cent range that it's been held in since the start of November.
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