Itâs been another active day for trading in global markets. A drop back into recession in Italy, and a drop in German factory orders raised more questions about the Eurozone economy sending stocks and currencies across the continent tumbling. This puts additional pressure on the ECB to accelerate its timetable for stimulus heading into tomorrowâs ECB meeting which could keep EUR pairs particularly active over the next 24 hours. Economic concerns about Europe combined with growing political fears over Ukraine to spark a big rally for gold which gained over $20.00/oz and cleared $1,300 once again while silver moved back above $20.00. JPY rose to the top of the performance pile while USD and CHF also outperformed their peers. US indices shrugged off the European selloff and traded close to flat, but there were some big moves in individual shares off of merger news. Time Warner fell by 12.6% while Sprint dropped 18.2% as takeover speculation collapsed along with failed merger proposals. Even where a deal did go through traders went looking for the exits. Walgreen dropped 14.6% after announcing a $15B deal to buy out the rest of Switzerlandâs Alliance Boots but the companyâs decision to keep its headquarters in the US and pay taxes there was well received by Main Street but dissed by Wall Street. The failure of two big deal proposals suggests that liquidity may be starting to dry up. Fears of Ukraine disruptions sent wheat and corn soaring as well. Big moves in metal and grain prices sparked rallies in both AUD and CAD ahead of todayâs Australian and Fridayâs Canadian employment reports. AUD may also be active today surrounding todayâs Australian construction PMI report while house prices could spark some interest in NZD trading as it tries to stabilize from a big selloff.