mynameisandhy Posted December 14, 2011 Author Report Share Posted December 14, 2011 News and Economic Review Europe (Germany) No Christmas party for Commerzbank Wednesday, December 14, 2011 Christmas is supposed to be and celebrate with his usual lively but maybe this time it will feel different for employees of Commerzbank AG, Germany. As one of the two largest credit bang Commerzbank has canceled its Christmas party plans as a result of the crisis that also hit the joints as well as finance companies. Bank based in Frankfurt Germany announced cancellation of about 3 weeks ago. According to sources who did not want his name mentioned, "a holiday party like it was not worth doing in the midst of a crisis like this" Few remember a very bleak year some time ago when Commerzbank should gracefully accept the hand size of government is not when the storm hamtaman nseluruh credit crisis hit the world, no less than 5.3 billion euro bailout fund that has been in the drizzle to Commerzbank. The company is trying to reduce costs, store their assets, selling their business that it weighed approximately langah company, achieving a revenue target company to raise capital without having to involve third party funds / customers Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 14, 2011 Author Report Share Posted December 14, 2011 News and Economic Review Europe (UK) Pound strengthened against the dollar despite worries persist Wednesday, December 14, 2011 Pound edged up from the level of decline in two weeks against the U.S. dollar in the session Wednesday, but limited increases in bond yields increased when the Italian added concern that the EU summit last week made little progress in addressing the debt crisis in the region. Market sentiment was battered in recent days by the view that the EU summit last week did not produce a decisive plan to tackle the debt crisis in the euro area. Earlier today, the Italian Treasury to sell bonds that meet the government's five-year target of 3 billion euros, the average yield of 6.47 percent, after paying 6.29 percent on a similar auction in November. After the auction, yields on Italian 10-year bond is above the critical threshold of 7 percent. GBP / USD touch the 1.5531 level on daily in afternoon trading in Europe; which then undergoes consolidation at the level of 1.5490, up 0.07 percent. In addition, the sterling strengthened against the euro with EUR / USD down 0.55 percent touched the 0.8375 level. Also on this day, Germany auctioned 4:18 billion euros of bonds in two years, reassure investors after a 10-year bond auction last month found a very weak investor demand. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 14, 2011 Author Report Share Posted December 14, 2011 News and European Economic Review (Switzerland) Towards Distressed Franc the SNB Meeting Thursday, December 15, 2011 Depreciation of the Swiss franc continued for 3 consecutive days to reach the 9-month lows against the dollar, the Swiss National Bank ahead of the meeting that according to most market participants probably will not change its policies for a while. SNB governor Philipp Hildebrand still expected to refrain from raising the legal minimum exchange rate at 1:20 Francs per Euro in a policy meeting in Zurich on Thursday. "The market was waiting for the results of Thursday's meeting," said Bernd Berg, currency analyst at Credit Suisse AG in Zurich. "Maybe they will imprison its intention to raise the limit of the exchange rate given the latest economic data showing weakening Switzerland." Swiss consumer price index dropped 0.5% in November, according to the Federal Statistics Office reported on Neuch? Tel on 6 December, the biggest drop since October 2009. Previously, the State Secretariat for Economic Affairs reported if the Swiss economy grew only 0.2% during the 3rd quarter, the lowest in the last 2 years. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 15, 2011 Author Report Share Posted December 15, 2011 News and Economic Review Europe (Italy) Experiencing Italian Recession Thursday, December 15, 2011 19:12 pm Minister of Industry, Corrado Passera said Italy is now in a recession but is still able to come back please register growth. "We're in a recession," Passera said the industry association Confindustria. "Management incompetence has created a global economic crisis." Passera statement is similar to the estimate of prediction Confindustria Italian GDP will drop 1.6% for 2012; is worse than previously estimated the expected growth of 0.2%. Passera see the importance of the role of the company to create economic growth. "There is no other way to create growth in addition to give a greater role to the private sector," Passera said that indicates the government does not have the funds to provide stimulus. Passera also see credit problems that haunted the economy. European Banking Authority (EBA) has said banks need to inadequate capital shortage that reached € 114.7 billion. "Banking will experience pressure, especially with the scarcity of funding sources," Passera said. In the meantime, please register strengthening euro thin in early New York session. EUR / USD is now trading 1.3000, better than yesterday's closing level of 1.2981 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 15, 2011 Author Report Share Posted December 15, 2011 News and Economic Review Europe (Germany) Expansion of Private Sector in Germany in December Thursday, December 15, 2011 Activity in the German private sector expanded in December, driven by gains in service sector and less sharp decline in manufacturing, according to purchasing managers survey. Markit Economics on Thursday (15/12), said the composite Purchasing Managers Index rose to 51.3 in December from 49.4 in November, above the 50.0 that distinguish expansion from contraction and the highest level for four months. That is the best result of expectations, largely due to a surprise rise in activity in the services sector. Part of the economy PMI rose to 52.7 from 50.3 in November, the result is stronger than forecast a decline to 49.9 from economists. The manufacturing sector is also done very well, although activity continued to decline. Part of the economy PMI rose to 48.1 from 47.9 to reach its highest level for two months. Economists estimate down to 47.5. Markit warned that new orders are still weak, the increase in December on the overall activity may not proceed. "Activity in the higher service in the meantime has become a pillar of support for the output of Germany as a whole in recent months," said Tim Moore, an economist at Markit Economics. However, new business in this sector has barely risen in the second half of this year, and cost pressures remained elevated, which makes it difficult backdrop for approaching new year. " Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 15, 2011 Author Report Share Posted December 15, 2011 News and Review of European Economic Euro Trying To Recover Thursday, December 15, 2011 The euro rose on the New York session after the good results of the Spanish bond auction and the index of manufacturing & repair services of Europe managed to reduce investor fears of the threat of recession. Spain managed to collect money € 6.03 billion; exceed a target of € 3.5 billion with lower borrowing costs. Index of manufacturing and services rose to a level respectively 46.9 and 48.3, better than forecast and the publication in November. "The Spanish bond auction is pretty good. Madrid managed to collect a lot of money without having to pay even higher. Best of publications indexes of manufacturing and services also provide a positive impact," said Jane Foley, analyst at Rabobank International. "Today the euro received fewer negative news and this course can trigger recovery, "said Geoffrey Yu, a strategic UBS. Meanwhile, the euro strengthened at the London session. EUR / USD is now trading 1.3043, 1.2957 daily lows stay away Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 17, 2011 Author Report Share Posted December 17, 2011 News and Economic Review Europe (Italy) Vote of Confidence Coming Monti Get Senate Vote Friday, December 16, 2011 Ahead of the Italian parliament voted to approve the budget austerity measures Italy, Italian Prime Mario Monti won the confidence vote / vote of confidence from other officials. This indicates that the proposed budget savings package Monti likely to be approved by the Italian Parliament. According to political observers, Monti won a vote of confidence with a solid with no visible presence of the two sides clash at all. Then it can be expected that parliament will vote for the next Italian budget savings plan will run smoothly. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 17, 2011 Author Report Share Posted December 17, 2011 News and Review of European Economic Maintain a Stable Euro Strengthening Friday, December 16, 2011 The euro currency rose slowly but surely come back in a relatively quiet trading session in Europe ahead of the Christmas holiday. While the yield on the eurozone bond market is still stable. Monitored by far the EURUSD currency pair rose 0.49% to a level of 1.3078, after reaching its highest level today at 1.3083, while the lowest daily at 1.3004 area. While the U.S. dollar index dropped -0.39% to a level of 80.03. The volume of currency contracts are still relatively small so that the movement of major currencies as a whole is not too large. Previously many investors had fooled by rumors that the rating agency S & P will lower the credit rating of Italy and Spain, as the entire European Union countries in a negative outlook, the downgrade of course still very open opportunity. However, after the rumors were not confirmed, the perpetrators managed to recover sentiment and trigger a relief rally in the EURUSD. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 17, 2011 Author Report Share Posted December 17, 2011 News and Review of European Economic Assume Dudley Issues Political Issues In Europe Only Problem Not Fiscal Friday, December 16, 2011 New York Fed President William Dudley has begun testimony before the U.S. Congressional panel this evening where William Dudley said he did not expect the Fed to take additional steps to address the impact of European debt crisis on the U.S. economy. He also argued that the U.S. dollar lending program under the auspices of the U.S. Fed will support the pressure from Europe to protect and maintain the availability of credit to U.S. households and businesses. Yet Dudley acknowledged that the Fed will monitor closely developments in the European crisis, so the Fed has taken specific steps in cooperation with several other central banks to encourage credit flows to households and businesses. According to Dudley, the European region actually has the fiscal capacity to address the financial challenges facing today, but political feuds in the region proved more difficult than previously thought, whereas political factors are very crucial to coordinate the necessary steps they take in order to achieve the policy objective response are effective. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 19, 2011 Author Report Share Posted December 19, 2011 News and Economic Review European (Spanish) Spain Rising Bad Debts Monday, December 19, 2011 Spanish bank bad loans rose for the seventh consecutive month and reached its highest level 16 years, according to data released by the Bank of Spain. 7.42% of bank lending has been past due more than three months; is higher than 7.16% September publication. This is the highest level since November 1994, and far from the level below 1% which was recorded prior to the property sector dropped in 2008. Non-performing loans in October reached € 131.9 billion, equivalent to 13% of Spanish GDP. Total lending also fell to € 1.78 trillion in October; lower than the previous month publication € 1.79 trillion. The banking sector has difficulties to overcome credit losses in the real-estate sector and construction as the increase in euro-zone debt crisis and the worst economic slowdown in the last decade. Meanwhile, the euro weakened entering the New York session. EUR / USD is now trading 1.3013, 1.3043 daily stay away from high-level Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 19, 2011 Author Report Share Posted December 19, 2011 News and Economic Review Europe (Germany) Worry about the German Bundesbank Economic Monday, December 19, 2011 Germany's economy will face a challenge in winter due to protracted debt crisis of the overload performance of exports, according to the German central bank. Economic growth may be a natural slowdown in 2012 after moving sideways during the winter 2011-2012, the Bundesbank monthly report. "There is uncertainty about the economic outlook. Improved domestic economic activity is still ongoing; but the debt crisis and the weak global economy impose on Germany's economic performance. Early in December, Bundesbank Germany's economic growth has been revised to 0.6% for the year 2012; lower than the previous estimate of 1.8%. Bundesbank has warned against the threat of the debt crisis of the German economic performance-based exports. Bundesbank also worry about the uncertainty will be the ratio of government deficit in the coming years due to the impact of state rescue other euro-zone members and support for German financial institutions. Meanwhile, the euro weakened on the New York session. EUR / USD is now trading 1.3020, down 21 pips from 1.3041 Monday opening price Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 19, 2011 Author Report Share Posted December 19, 2011 News and European Economic Review (Poland) Poland Will Lend € 6 M for the IMF Monday, December 19, 2011 Finance minister Jacek Rostowski said Poland is planning to lend € 6 billion to the IMF in order to increase the capacity of financing to help members of the euro-zone is problematic. The funds are sourced from the reserves and National Bank of Poland will be released in phases based on the needs of the Fund; but the payments will stop automatically if the economic situation of Poland worsened. In early December, the European meeting has agreed to provide funds of up to € 200 billion to the IMF to help combat the euro zone's debt crisis. Poland and several other members of the former Soviet Union, which now join the community of European Union-have been asked to participate on the funding for the IMF. Meanwhile, the euro was trading lower on Monday though starting to look less decline in the New York session. EUR / USD is now trading 1.3028, 1.2982 daily lows stay away Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 20, 2011 Author Report Share Posted December 20, 2011 News and Economic Review Europe (UK) Darting Into Pound Highest Level 5-Day Tuesday, December 20, 2011 Pound seems to obtain some of the strong demand in trading on Tuesday, which catapulted the GBPUSD up to the highest level of new 5-day in 1.5649. UK economic data released today also showed some improvement, with consumer confidence index released by the Nationwide up to 40 of the printed record lows in the previous month. Nevertheless, the figures were still below the long-term average at level 77, which indicates if the struggle is still long to be able to return the sentiment becomes positive again. "GBPUSD seems to try to approach the 1.5660 resistance zone, although these efforts may be temporary given the threat of profit-taking and low volume towards the end of the year," said Valeria Bednarik, chief analyst at FXstreet.com. "Daily Closing below 1.5660 may be signaling the continuation of short-term rally towards the 1.5730/70 zone which is a strong medium-term resistance. Just above the area clear effluence that will eliminate the overall bearish pressure seen on a larger timeframe," he added. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 20, 2011 Author Report Share Posted December 20, 2011 News and Review of European Economic European Market Return 'Excited' After the German Ifo data Tuesday, December 20, 2011 The majority of shares in major European markets traded higher on Tuesday, after the release of German business sentiment survey showed results that exceeded expectations. Yet the fall of AstraZeneca PLC stocks is still making the pharmaceutical sector depressed. The results of the Ifo survey showed German business sentiment in December rose to 107.2 from 106.6 the previous month, which confront the expectations of a decline to 106.1 from economists. The market saw a positive response to these data, that lifts Germany's DAX index rose more than 0.8%. "The increase in second consecutive month the index has shown that at least if the economy began to re-stabilized after a sharp slowing in 3 or 4 months before," said Jonathan Loynes, chief economist at Capital Economics. While the French CAC 40 index tracked managed to collect approximately 0.85%, led the banking and automotive sectors. BNP Paribas SA shares trading around 3% higher, while shares of automaker Peugeot SA and Renault SA of each recorded an increase of 2.3% and 2.1%. In Britain, the pharmaceutical sector looks still burdening the FTSE 100 index which so far have lost about 0.25%. AstraZeneca shares fell by 2.3% after the drugmaker said it would take pre-tax charge of $ 381.5 billion of research and development costs associated with the study medication. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 20, 2011 Author Report Share Posted December 20, 2011 News and Economic Review Europe (UK) Touch level above 1 pound against the dollar last week Tuesday, December 20, 2011 The pound rose to a level above one week against the U.S. dollar in session Tuesday, after the completion of the debt crisis signaled progress in Europe to support the demand for risky assets. Market sentiment received support after European Union finance ministers agreed to boost the International Fund creatures of 150 billion euros by the European Union alianis support, to resolve the financial problems in the region. UK refusal to participate would raise doubts whether the EU could reach 200 billion euros target. Meanwhile, European Central Bank President Mario Draghi reiterated that the bond purchase program is temporary and is not infinite and said the economy in the European Union the possibility of a phase mamsuki recession next year. The market also focuses on the Spanish bond auction of three and six months which will take place today. GBP / USD touch the 1.5570 level during the European morning trading session, which is the highest level since December 13, after it had consolidated at the level of 1.5573, an increase of 00:48 percent. Sterling against the euro also noted an increase with EUR / USD down 0.8372 hit a 00:17 percent. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 21, 2011 Author Report Share Posted December 21, 2011 News and Economic Review Europe (UK) UK business confidence falls Wednesday, December 21, 2011 British consumer confidence fell this month since the crisis of 2009 and increased pessimism about the economy amid the worsening situation in the euro zone, as submitted by GfK NOP Ltd.. Sentiment index fell two points from last November to -33, the lowest since February 2009, as submitted by the group based in London. Economic forecasts next year fell 8 points to -41, the lowest since January 2009. Consumer confidence weakened as European leaders are still struggling to find a solution to the debt crisis, rising unemployment, and some policy makers that the Bank of England warned the risk of weakening the economy at least for one quarter. Policy makers to expand their asset purchase program of € 75 billion (118 billion) to € 275 billion in October and December meeting minutes they will be released today and will indicate whether the stimulus continue to be approved. Nationwide Building Society said yesterday that its consumer confidence index rose in November from a record low. However, the index is nearly 40 points below the long-term average. FFK gauge the views of consumers about their personal financial situation for next year still remain in this December -10, while the reference that indicates whether the current best time to make major purchases fell 4 points to -31. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 21, 2011 Author Report Share Posted December 21, 2011 News and Review of European Economic Despite Rebound, Euro Beware of 'sell on rally' Wednesday, December 21, 2011 In afternoon trading session on Wednesday (21/12), recorded the single currency euro rose sharply in the range of $ 1.3115, after reaching the peak price of $ 1.3126, Reuters. Rebound EUR mainly thanks to the emergence of positive news from both European and American continents. From Europe, investors got good news from the success of the strong demand for Spanish bond auction. The market also welcomed the positive data German sentiment index which rose to a level of 107.2 in December, from 106.6 the previous November. And related news, suddenly shot up to the euro immediately above the level of $ 1.31 for the first time in the past week along with a surge in investor interest in risky assets. The euro also reap support from a news story that mentions the banking sector will have a duration of 3-year loan from the European Central Bank (ECB) this week, which reportedly will be partially used as collateral and bonds to buy euro zone countries. Nevertheless, the overall sentiment remained fragile and investors were still maintaining the strategy sell on rallies given the absence of credible solutions resulting policy makers to tackle the debt crisis. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 21, 2011 Author Report Share Posted December 21, 2011 News and Economic Review European (Spanish) Spanish short-term bond yields fell sharply Wednesday, December 21, 2011 MADRID. Short-term bond interest rates have fallen sharply Spain. For the six-month tenured bonds slumped from 5.2% to 2.4% at an auction last month. This mendakan pressure on bond markets in the European Union (U.S.) slightly reduced. Spain also increase lending to the public by increasing the bond tenure of three months and six months amounting to 1 billion euros from the planned to 5.6 billion euros. Prime Minister of Spain, Mariano Rajoy, said, would reduce government spending in the extreme in the coming years. It is certainly to reduce Spain's budget deficit of 16.5 billion euros in 2012. If saving is successful, the Spanish could reduce the budget deficit of about 4.4% in 2012. Meanwhile, last year, Spain deficit of 9.2%. Despite widespread doubts of success Rajoy make budget savings, but he has to convince the market that Spain would reduce the national debt. That is one reason why governments would lend more money in the market by giving a lower interest rate. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 23, 2011 Author Report Share Posted December 23, 2011 News and Review of European Economic Bond Yields Down, European Stocks Up Thursday, December 22, 2011 European stocks rose in trading Thursday (22/12) ended weaker yesterday ahead of year-end holidays. The FTSE rose 0.6% to 5427, the CAC rose 1.1% to 3065 and the DAX index rose 1.2% to 5866.12. Bluechips stock index rose 0.7% after on Wednesday fell 0.5%. So quoting yahoofinance.com. European banking index rose 1.2% after they take advantage of loans from the European Central Bank (ECB) up to 490 billion euros for 3 years. This condition could assuage fears of debt crisis. But eventually become doubt they will use those funds to buy European government bonds. "Yields on Italian and Spanish bonds fell indicate the bank will not do the carry trade. They object to using the funds LTROs EDB to buy government bonds," said analysts at Paris. PNP Paribas bank shares rose 2.6% and shares of UniCredit up 1.6% bak. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 23, 2011 Author Report Share Posted December 23, 2011 News and Economic Review Europe (UK) The rate of UK Q3 GDP Revised Up Thursday, December 22, 2011 UK GDP report for the third quarter was revised higher to 0.6% compared to previous estimates on the rate of 0.5%. Output of production in various industries rose 0.2%, while the manufacturing sector increased 0.1%. The services industry output rose 0.7%, while the construction industry output increased 0.3%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 23, 2011 Author Report Share Posted December 23, 2011 News and Economic Review Europe (UK) GDP Support Sterling Performance Thursday, December 22, 2011 Sterling rose on the London session, supported by GDP data confirm the sustainability of the UK's economic recovery. The third quarter GDP was revised higher to 0.6%, better than forecast and the publication of the previous 0.5%. Traders also look at buying from the Middle East that support the strengthening of sterling. However, the potential rally was also limited because the data this afternoon also reiterate lack of recovery. UK trade balance deficit rose by? 15.2 billion, worse than predicted? 5.6 billion and previous publications? 7.4 billion. Analysts see the sterling resistance at 1.5780, the highest price November 30. "For now, the chances of selling area of 1.57/1.58 give it enters 2012. The performance of the dollar will remain bright in the first quarter of next year," said Jeremy Stretch, an analyst at CIBC. Anxiety over the fragility of Britain's economic recovery will likely take place with the BoE monetary stimulus will re-injection in February. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 24, 2011 Author Report Share Posted December 24, 2011 News and Economic Review Europe (UK) UK GDP Sterling Not Much Help Friday, December 23, 2011 Pound traded flat against the U.S. dollar tends on Thursday amid thin trading volumes approaching the end of the year. Nevertheless, the overall British currency is still on the path to a moderate annual rise against the greenback. British economic growth data release is faster than eskpektasi in the period from July to September is also not much help to the movement of Pound. UK in Q3 GDP was revised upward by the Office for National Statistics to 0.6% from the previous 0.5%, with some economists expect economic growth to decline sharply in the last quarter of 2011 and early 2012. While separate data are also released ONS shows UK trade deficit widened to a record high? 15.226 billion in Q3, largely triggered by a sharp decline in investment income and rising merchandise trade deficit. "Despite the improved sentiment towards risk seen, the majority of market participants appear reluctant to take positions began towards the end of the year," said Jeremy Stretch, currency analyst at CIBC. "For now $ 1.57/1.58 area might be a good enough level to take a short position until well into 2012 given the dollar still seems to be showing a strong performance in the first quarter," he added. Market concerns over the fragility of the UK economy is likely to continue into next year, with BoE policy makers continue to maintain the opportunity for additional quantitative easing, which ends in February 2012. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 24, 2011 Author Report Share Posted December 24, 2011 News and Review of European Economic Action Selling Euro Spying Continues Friday, December 23, 2011 Anxiety that the debt crisis of the Euro zone will increasingly worse in the next year has forced investors to maintain the strategy sell on rally for the Euro, which inhibits the movement of the single currency and continue to hold it around the opening price level versus the U.S. dollar on Thursday. The first liquidity operations launched by the European Central Bank tried earlier in the day also seems not much help Euros, and it raises doubts about the amount of the funds must be spent to restore the euro zone economy is increasingly approaching recession. "The crisis is far from over. Maybe we will see more pressure on the Italian and Spanish bonds, and more pressure on the euro," said Ulrich Leuchtmann, head of research at Commerzbank forex. "There are not enough factors that support the euro to move higher against the dollar today." he added, forecasting the euro to dip to $ 1.25 in 2012. Leuchtmann added that the number of speculative short positions in the euro against the dollar have slowed the momentum of decline, although he estimates as the single currency will fall down to the range of $ 1.25 in 2012. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 24, 2011 Author Report Share Posted December 24, 2011 News and Review of European Economic Stable Close 1.3050 Euro Friday, December 23, 2011 Euro opened the Asian session almost did not experience any movement from the opening price on Thursday, around 1.3050, after trading in a range between 1.3120 and 1.3015; euro fell from its session high downgrade rumors related to France. "The graph shows hourly rates in the range is limited only under-20 high school level while the indicator is still almost flat, without giving any sign," according to comments from Valeria Bednarik, chief analyst at FXstreet.com. Finally at the level of 1.3050, say analysts who provide analysis to support level at 1.3040, 1.3010 and 1.2980. As for the movement increased, the resistance level at the level of 1.3070, 1.3100 and 1.3145. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted December 26, 2011 Author Report Share Posted December 26, 2011 News and Review of European Economic Thin Euro Rise in Quiet Trading Holidays Monday, December 26, 2011 The euro gained thin in most of the action for a quiet holiday at the East Asian afternoon trade on Monday (26/12), with a thin dollar weakened against most major rivals. Euro beubah position at $ 1.3059, up slightly from 1.3047 in North American trading Friday. Seen a slight increase in U.S. unit Friday after the Italian bond yields rose above the level of 7%, raising concerns about European finances. But peradgangan weak, with many stock and bond markets closed for the Christmas holiday, and the volume can still highlight to the new year. Among the other major currency pairs, the dollar declined against the Japanese yen, slipping to? 77.99 from? 78.03 Friday. Pound rose slightly to $ 1.5612 from $ 1.5609. Australian dollar also rose moderately to $ 1.0159 from $ 1.0148, with the Sydney market closed until Wednesday. Michael Kitchen is the Asia editor for MarketWatch and is based in Los Angeles. Quote Link to comment Share on other sites More sharing options...
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