European and Asian stocks extended last week’s rally on Monday and crude oil marched higher after U.S. economic news and stronger-than-expected data from the euro zone spurred expectations for economic recovery.

The euro recovered against the dollar today, Friday, as traders picked up the single European currency following its fall the previous session, when weak U.S. jobs data helped lift the dollar across the board.

Dollar and yen slip as stocks gain, risk aversion eases…  Government aid for banks offset Citi, BoA results… U.S. net capital inflows fall sharply in November.

Multicurrency distortions make multicurrency loans look better than they have for some time.

Asian markets rallied big overnight in response to the U.S. market’s big day yesterday. Hong Kong was up 3% and the Nikkei was over 4%. So far, European stocks are following suit, but not as enthusiastically – with London, Paris and Frankfurt up less than 1%.