mynameisandhy Posted March 7, 2012 Author Report Share Posted March 7, 2012 News and Review of European Economic Zone (UK) On Stagnant Sterling 1.5700 Wednesday, March 7, 2012 Today (07/03) sterling moved only 40 points in the range 1.5698 - 1.5738 after last night fell sharply due to the strengthening U.S. dollar. AKFinancials analyst said "the price support level was penetrated with a target at 1.5670 and 1.5650 strong support level." GBP / USD at 1.5735. Currency continued to strengthen the resistance level at 1.5770 and 1.5810, clearly FXstreet.com analyst team. Support level at 1.5700, 1.5660 and 1.5620. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 7, 2012 Author Report Share Posted March 7, 2012 News and Review of European Economic Zone Schedule of Significant Events of the Euro Zone Wednesday, March 7, 2012 The following is a schedule of important economic events in the Euro Zone for the next few days: - Mar 7 German finance minister Schaeuble met with Italian Prime Minister in Rone - Mar 7 Van Rompuy of the European Union met with Prime Minister Juncker Luxembourg - Mar 8 Petemuan ECB governing council and the latest prediction from ECB staff - March 8 deadline for private creditors to participate in the PSI Greece - May 9 meeting of the Eurogroup - the final approval to a package-2 Greek - Mar 9 CACs Activation Greece - Mar 9 Payment of Greek T-bill amounting to 1.455 billion euros - Mar 9 quarter GDP data for Spanish-4 final - Mar 9 quarter GDP data for Germany-4 final - March 10 General Election Slovakia - Mar 12/13 Meeting of Finance Ministers of the European Union - March 12 meeting of the Eurogroup - March 12 debt deadline PSI exchange are governed by the laws of Greece Greece - March 12 meeting to approve IMF bailout package to Greece-2 - March 13 Italy T-bill auction (tenor 12-months) Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 8, 2012 Author Report Share Posted March 8, 2012 News and Review of European Economic Zone Euro Strengthens Next, Optimism Strengthens European Market Thursday, March 8, 2012 After the move rebounded yesterday trading, the euro this afternoon (08-03) further push the U.S. dollar and has risen about + 80 pips or about + 0.61% and the scrolling seems to be in the range of 1.3228. Destatis statistics office has just announced that industrial production in January grew 1.6%, and a jump in performance in December where shrinkage - 2.6%. The performance of stock trading on European bourses also showed a positive development to accompany the performance of the forex market. EURO STOXX index of leading shares was observed on day 50 was increased by about + 1.69% at 2502.29, and the French CAC 40 stock index Index also increased by about +1.97 at 3459.05. While the German Stock Index DAX iu this day is also observed to move up quite sharply around + 2:04% at 6807.30. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 8, 2012 Author Report Share Posted March 8, 2012 News and Review of European Economic Zone Above 1.3200 Euro Stable Ahead of ECB Rate Decision Thursday, March 8, 2012 The euro gained on Thursday thin propped by positive news about the participation of private lenders for the exchange of Greek bonds that can determine the second phase of the bailout funding for the country. Separately, the Euro and the dollar rose sharply against the Japanese yen after Japan's current account showed a deficit to a record high for the first time in three years in the month of January, triggering a sell Japanese Yen. In Europe there is still hope some of the major banks and pension funds will participate in the Greek bond swap. Still eyeing the Greek target of 90% from private lenders will participate in the bond swap is actually very difficult. The percentage of private creditors agreed to swap their bonds will be the determinant of the direction of the euro currency next. In addition market players will also wait for the results of ECB rate decision on Thursday's expected not to change interest rates will also be expected by market participants, followed by a press conference by ECB President, Mario Draghi after the central bank released its interest rate decision later. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 8, 2012 Author Report Share Posted March 8, 2012 News and Review of European Economic Zone (UK) Sterling 2 days touch the top level against the dollar Thursday, March 8, 2012 The pound rose to its highest level in two days against the U.S. dollar, as risk appetite increased sharply amid hopes that Greece is close to finalizing a swap of private bonds and securing a second bailout. Market sentiment was boosted by a report on Wednesday that a large number of European financial institutions have signed a bond exchange deal, which aims to reduce the 53.5 percent of 177 billion euro debt of Greece. The main Greek banks, along with large pension funds, also agreed to take part in the bond swap. The demand for higher yielding assets also supported by the data of non-farm payrolls ADP Wednesday, which showed that U.S. private sector added 216,000 jobs in February, breaking down expectations for a gain of 205 000. Sterling tracked the touch its highest level against the dollar in the last two days at the 1.5781 level in early European trade, which then undergoes consolidation at the level of 1.5768, up 0.17 percent. On the other trading, the pound against the euro scoop it fractionally, up 0.04 percent to touch the 0.8305 level. Later that day, the Bank of England will announce its benchmark interest rate, while the U.S. government will release data on initial jobless claims. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 9, 2012 Author Report Share Posted March 9, 2012 News and Review of European Economic Zone (UK) Sterling weaken gloomy economy Friday, March 9, 2012 Sterling was dropped after the data confirm bleak outlook worries about the UK economy. Please register growth of manufacturing production only 0.1%, worse than the publication in January increased 1.1%. Industrial production fell 0.1% even in February, lower than forecast and 0.4% the previous release. GBP / USD is now trading 1.5763, 1.5832 daily high level away from The bad publicity of the data made investors worry about the performance of the UK economy after GDP contracted 0.2% in the final quarter of 2011. This certainly reinforces the reason the Bank of England to continue its asset purchase program, especially with the reduced expectations of inflation. Recent surveys show the predictions of inflation will grow 3.5% for the year 2012; lower than the 4.1% the previous similar surveys. Meanwhile, Morgan Stanley still give a bearish outlook for GBP / USD. Morgan Stanley considers the recent rally in sterling too much and brittle when investor sentiment deteriorates. Morgan Stanley still has a short position GBP / USD at 1.5905 level, with stop-loss target fall towards 1.5890 target 1.5200 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 9, 2012 Author Report Share Posted March 9, 2012 News and Review of European Economic Zone (UK) Consolidated FTSE ahead of U.S. nonfarm-payroll Friday, March 9, 2012 London's blue chip share index fell on Friday, but the decline is still considered reasonable by the market players and is considered the normal movement of consolidation after a strong rally in the previous session as the Greek bond swap event has been discounted by investors and further still waiting for the U.S. labor market report . Data U.S. non-farm payrolls during the month of February is estimated to increase to 210 000 in February after being jumped to a level of 243 000 the previous month, while the unemployment rate remained at 8.3 percent. While the results of the tender exchange of Greek bonds are reported exceeded the target, which is 85.8 per cent participation of private creditors to exchange their bonds, and the participation rate can be increased to 95.7% with an additional kalusa to force the rest of private creditors accept the bond swap. Monitored by far London's FTSE stock index fell -0.06% to as low as 5,850.00, after reaching the highest point in the level of 5,874.00 and intraday low at 5,837.00 daily. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 9, 2012 Author Report Share Posted March 9, 2012 News and Review of European Economic Zone Check the deficit of the European Commission Report Spain Friday, March 9, 2012 The European Commission has sent a team of experts to evaluate data for Spain the Spanish government's budget deficit for 2011. Envoy delegation to the Madrid Brussels indicate that European policy makers are still unsure of the Spanish deficit target of continuous change. In November last, for example, the Spanish deficit figures reported only in the range of 6% and the sudden change in the 7% at the end of the year. In early February, there was a charge that the Spanish government deficit figures manipulated for political reasons, to provide an overview sesuram possible in order to be more flexible deficit target for 2012 by policy makers in Brussels. But the Spanish government, has denied rumors, saying that the deficit target set by the European Union to Spain was still at 4.4%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 12, 2012 Author Report Share Posted March 12, 2012 News and Review of European Economic Zone (France) French President Ready to Back If you lose Monday, March 12, 2012 If you lose the upcoming presidential election, incumbent French President Nicolas Sarkozy was ready to resign from office. Ahead of the French presidential election, the upcoming April-May, Sarkozy is ready to fight like hell to win a second term. But if it is not elected again, he did not push yourself and be ready to retreat. While riot police used tear gas to disperse a crowd of about 200 mass in the city of Saint-Just-Saint-Rambert, where Sarkozy will campaign. In the poll, six weeks before the elections, Sarkozy left of the presidential rivals, the Socialist Party Francois Hollande. Even so, Hollande much doubt as inexperienced in statecraft and international issues. Sarkozy claimed to see the agenda concerned the presidential candidate of the Social. He is concerned, there would be a problem for his country at a time when the economy is tough like this. "But if the French people no longer believe in me, do you think I am going to continue in politics? The answer is no, "said Sarkozy, told RMC radio. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 12, 2012 Author Report Share Posted March 12, 2012 News and Review of European Economic Zone Euro Weakens Opened In Early Sunday, the IMF Plan Monday, March 12, 2012 Euro in trading today (12-03, 03:38 GMT) generally tracked showed movement down to a few other major currencies. Movement of the index after the Euro was opened in the range of 104.29 in early trading (00:00 GMT) has been around down - 20 pips or about - 0.19%. At the time of this story down the rolling observed in the range of 104.09, in line with the expectations of a slowdown of production in Germany in the period of work in February. German statistics office, Destatis, is scheduled to announce the most recent data indicator German WPI m / m is expected to slow slightly to 1.1% of the value of the period of January is 1.2%. January performance report shows the increase is quite good at 3.0% of the period of January 2011 or one year earlier. Normal range on day trading Euro index is expected to have a support level at around 103.71 and resistance level at around 104.87. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 12, 2012 Author Report Share Posted March 12, 2012 News and Review of European Economic Zone Euro tumbles in Early Week, USD Rally Monday, March 12, 2012 Started this week (Monday, 12/3), in general the major currencies (currencies in the world) back pressure is still weak as investors avoid risky assets (risk aversion) after the U.S. dollar strengthened after the release of U.S. employment figures. The weakening of a number of major currencies is caused by the strengthening U.S. dollar after economic data Non-farm payrolls (employment outside the agricultural sector) had passed all of the expectations of 227 000 210 000 with the unemployment rate remains steady at 8.3%. While the euro single currency to move in the range pelemahannya observed after the end of last week had fallen sharply after Greece said it would use the option to force private investors to participate in the bond swap program. According to the Ministry of Finance of Greece, so far as much as 85.8% of private creditors who hold Greek bonds have expressed willingness to participate in the restructuring program worth? 177 billion. But the Greek government will be forced to use collective action clauses (CAC) to increase the participation of up to 95.7%. In addition, the anxiety of the other euro zone countries are heavily in debt and weak prospects for growth in the euro also put back under intense pressure. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 13, 2012 Author Report Share Posted March 13, 2012 News and Review of European Economic Zone The euro climbed, Strong Optimism Tuesday, March 13, 2012 Euro Index in trading today (13-03) in general showed a slight increase observed for several other major currencies. After opening at around 104.64 in early trading (00:00 GMT) has increased by about + 7 pips or about + 0.07% and at the time of this story down the rolling observed in the range of 104.71. European Union finance ministers are reported to have signed a consent document to bail out of Greece and thus the state is scheduled to receive a total funding of 130 billion euros. The first phase of the total aid fund will be disbursed this month. The development is expected to continue the impressive performance in February, which significantly increased + 27.0 and the period is the period with the first positive performance since May 2011. Normal range of movement of the index on the day the euro is expected to have a support level at around 103.71 and resistance level at around 104.87. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 13, 2012 Author Report Share Posted March 13, 2012 News and Review of European Economic Zone Euro Jump to 1.3170 Tuesday, March 13, 2012 In the Asian session, the euro unexpectedly moved up to the previous area of 1.3155 1.3170 in early trading. Further resistance was recorded in the area of 1.3190 and 1.3225, while the level of support may be found in the area of 1.3140, 1.3110 and 1.3085. Bullish action may occur due to action to buy Euros against a number of other foreign currencies, while medium-term concerns are moving away from Greece and the euro zone crisis to China and developing countries, according to John Noonan, analyst at IFR Markets. Technically, Valeria Bednarik, chief analyst at FXstreet.com observes: "in a 4-hour chart euro to maintain negative signal when prices move below the level of SMA and EMA-20-200, while some indicators are still below the middle price, with the movement of the current correction may continue to near the 1.3200 area, although it seems investors are still wary of the economic results of the FOMC meeting. " Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 13, 2012 Author Report Share Posted March 13, 2012 News and Review of European Economic Zone (UK) RICS: Strengthening the UK's strongest house price Tuesday, March 13, 2012 UK house price index rose kelevel highest in 19 months for first home buyers rushing before the expiry of tax holiday property, as stated by the Royal Institution of Chartered Surveyors. Numbers obtained from a survey conducted by the RICS showed a rise of three points sebleumnya months at minus 13, the strongest since July 2010 as stated in a statement today. But the numbers are still below zero, this indicates that the surveyor to see more weakening than strengthening months ago. This figure shows how most Britons take advantage of the tax holiday property in the last 2 years for first home buyers at prices below? 250,000 ($ 390,800) before ending on 24 March. In addition to increasing the activity, the improving economic outlook pushed the price for long-term expectations, while tighter lending conditions. RICS hopes the price index for the three months up to zero in February from minus 14 in January, while the figure for next year is expected to increase to 11 from minus 4, the first estimates are above zero in almost two years. Sales forecast remains at 20. RICS index for demand rose from 3 to minus 7 and sales per surveyor rose to 16 from 15.7. RICS said that the report indicates stagnation for the UK housing market, although London still looks pretty positive. London also noted the reference price in the 53 to Feburai ago, the only area of the 12 areas covered by the RICS which showed numbers above zero. Figures for the West Midlands and Northern Ireland is still the weakest, with minus 47 points. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 14, 2012 Author Report Share Posted March 14, 2012 News and Review of European Economic Zone European exchanges Opportunity Positive Wednesday, March 14, 2012 European stocks trading on Wednesday (3/14/2012) is predicted to strengthen with the expectations of most U.S. financial institutions to pass the test or stress test. FTSE index rose 29 points, potentially, will the DAX rose 27 points, and potentially the CAC rose 10 points. So quoting cnbc.com. The Federal Reserve was forced to announce the results of stress tests two days ahead of schedule after JPMorgan Chase announced that it has passed the test. Although some companies such as Citigroup fail. These results are in line with the Fed meeting that gave little positive sentiment towards the U.S. economy. Although the decision did not provide further monetary stimulus. British finance minister, George Osborne said he would prepare for the 100 years of gold reserves in the next week. The move is intended to take advantage of low interest rates in the country at the level of 0.5% since last three years. Today there will be the Italian government bond auction from 5 to 6.5 billion euros, or U.S. $ 8.48 billion for a period of three years. Asian stocks rose today as the majority of Hang Seng index rose 0.1%, the Nikkei rose 1.5%, the Shanghai index down 2.2%, ASX index rose 0.9%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 14, 2012 Author Report Share Posted March 14, 2012 News and Review of European Economic Zone Euro Flat, Rivalry With U.S. Dollar Still Give Pressure Wednesday, March 14, 2012 Euro Index today (14-03) observed is still moving flat against several other major currencies. Euro Index opened at around 104.07 in early trading (00:00 GMT) has been shifted + 0.01% and the rolling observed in the range of 104.08. Monthly reports industrial production is expected to demonstrate improvement in performance and expanded by 0.8% in December, where the sector showed a disappointing performance and contracted -1.1%. Nevertheless Euro movement challenged mainly from the positive sentiment towards rival, the U.S. dollar, the potential tends to strengthen after the Fed in early this morning delivered an encouraging outlook on the U.S. economy. Normal range of movement of today is expected to have a support level at around 103.71 and resistance level at around 104.87. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 14, 2012 Author Report Share Posted March 14, 2012 News and Review of European Economic Zone Euro worse off Wednesday, March 14, 2012 Weaken the dollar buying EUR / USD, according to senior bank trader in Tokyo. The next support level at 1.3020 euro. "It has become common if the euro fell as the dollar strengthened," he added. The euro was below the 1.3052 level, teredah level since February 16. Currency moves away from the high level at 1.3090. Currently the euro at 1.3034. EUR / JPY at 108.48 from a high level at 108.80. Traders in major Japanese bank said the currency cross is released as the weakening JPY Shanghai index post comments Chinese premier, Wen Jiabao said that China's property prices are still not affordable, and China will not loosen the implementation of the control property prices. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 15, 2012 Author Report Share Posted March 15, 2012 News and Review of European Economic Zone EUR / USD on a bounce from 3-week low, below 1.3050 Thursday, March 15, 2012 EUR / USD is on a bounce from 3-week low at 1.3001 since Hong Kong was opened, rose a modest 0.23%, sending the pair back to the previous price close to NY, and the lowest in Asia yesterday, around 1.3035. Local stock market has been flat on the other side the same time, this time mixed after opening higher, by now some of them in red. The Nikkei was up 0.41% slightly below the 10 100, while the gold make the round trip back to the opening price after hitting the bottom at session lows of $ 1636. For the nearest term resistance to the view upside down with the final price of about 1.3035 as before the opening price of Asia and the Asia-Pacific session lows yesterday and retrace of 1.3090/1.3003 0.38 feet down intraday, followed by the 1.3055 lows yesterday as Tuesday and retraced .618 of the same foot. To the downside, immediate support comes at the end of a fresh 3-week low at 1.3003, followed by 1.2980 area as low as December 16 and 1.2930/40 as 14/Jan 19/Feb December 25. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 15, 2012 Author Report Share Posted March 15, 2012 News and Review of European Economic Zone EUR / USD printing session highs, the focus on 1.3060 Thursday, March 15, 2012 Currency bloc is posting new session highs at 1.3055 area as the greenback is grinding lower on Thursday. In a move anticipated good, Eurogroup has approved a bailout package worth two Greek? 130bn, although market analysts coincide in a circle of uncertainty about the future of the Greek republic of fundamental country after the general elections due April. A map light in the front waiting for the day, because the employment data in the pan-European region in Q4 just as in Europe. The U.S. will release the weekly employment figures, PPI, NY Empire State index of men and TIC flows. In this paper, advancing 0.20% to 1.3046 with next resistance at 1.3090 (high-Mar.14) ahead of 1.3122 (res per hour Mar.13) and 1.3192 (high-Mar.13) and 1, 3213 (alt per hour sup / res). Breach of 1.2974 (low Feb.16) would bring 1.2955 (61.8% from 0.12624 to 1.3487) and 1.2931 (low Jan.25) and 1.2839 (low Jan.19). Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 15, 2012 Author Report Share Posted March 15, 2012 News and Review of European Economic Zone (UK) Pound worry about Unemployment Thursday, March 15, 2012 Pounds have turned lower against the U.S. dollar on Wednesday after the release of government data showing the number of British people who apply for unemployment benefits rose more than forecast in February. Based on the report of the National Statistics Office in London, jobless claims rose by 7200 to 1.612 million last month, which exceeded expectations for an increase of 5,000 from the economists. Number of claims continues to increase throughout the past 12 months also hold the unemployment rate at 8.4%, which is a 13-year highs. "These figures illustrate that labor market conditions as a whole remains bleak, with high rates of unemployment and wage growth weakened sharply," said Samuel Tombs, UK economist at Capital Economics. Meanwhile, Sterling is able to continue the appreciation it up to its strongest level versus 1-month Euro due to the prospect of the UK economy is relatively better than the Euro zone. Improvement in some recent data, such as retail sales and home prices, has reduced the risk of collapse of the UK economy into recession and reduce the chances of further QE of the Bank of England. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 17, 2012 Author Report Share Posted March 17, 2012 News and Review of European Economic Immediately Drizzle Fresh IMF funds; Euro Continue to Rebound Friday, March 16, 2012 Index Euro on forex trading today (16-03, 06:05 GMT) tracked moved higher. The currency opened at the range of 104.19 in early trading (00:00 GMT) and had a thin boy of about + 4 pips or about + 0.04% and the rolling observed in the range of 104.23. Accompany the development of the International Monetary Fund (IMF) announced it had approved loans amounting to 28 billion euros as part of the second wave of bail-out program for Greece. The agency also stated that funds amounting to 1.65 billion euros will be disbursed immediately and within the shortest possible time. IMF Managing Director Christine Lagarde confirmed that Greece faces significant challenges with having a large competitiveness gap, public debt is large and well capitalized banking system is weak. For that Mrs. Christine Lagarde convinced that the IMF could help Greece to face these challenges, as long as a member of the European Union. In today's trading Italian statistics office is scheduled to release the latest data on trade performance and the data expected to show a trade surplus of around 1.62 billion euros in January. Normal range of movement of the Euro today is expected to have a support level at around 103.94 and resistance level at around 104.41. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 17, 2012 Author Report Share Posted March 17, 2012 News and Review of European Economic Zone European markets opened flat Friday, March 16, 2012 European stock markets did not move much on Friday as the consolidation of post-market rally rather sharply in recent weeks, largely propped up the U.S. economic data is more positive. At the same time, market participants are increasingly optimistic about the prospects for economic growth in the euro zone. UBS for example, has revised its expectations for the euro area GDP growth to -0.4% from -0.7% previously predicted. UBS estimates for the UK rose 0.6% growth in 2012 than the previous estimate of -0.1%. The economic calendar today is awaited by European investors, among other European countries report the trade balance, and continued U.S. CPI report, Industrial Production and U.S. consumer sentiment report. In addition, stock market futures contract expiration and options contracts should trigger fluctuations in share prices on Friday. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 17, 2012 Author Report Share Posted March 17, 2012 News and Review of European Economic Zone Europe firmly in the opening exchanges, depressed automotive Friday, March 16, 2012 European stock markets traded in a fairly tight range at the opening of the trading session Friday, with the increase of the increase in mining and banking sectors as the automotive sector under pressure. Europe Stoxx 600 Index rose 0.1 percent to the observed level of 271.38, with shares of Iberdrola SA and Veolia environnement SA led the increase, each of which rose 1.6 percent. Tullow Oil PLC shares rose 1.4 percent on a pretty good update. Auto stocks fell, with shares down 1.6 Daimler AG and Porsche Automobil Holding eprsen SE fell 3.3 percent after Bernstein dongrade shares. German DAX 30 index flat at the level of 7,145,77. France's CAC 40 also recorded at the level of 3678.48 flat as well as the UK's FTSE 100 index was also recorded at the level of 5945.60 flat. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 19, 2012 Author Report Share Posted March 19, 2012 News and Review of European Economic Zone PIMCO: Portugal So Greece Next End 2012 Monday, March 19, 2012 Chief Executive of the company's bond fund giant PIMCO estimates that Portugal will be the next euro zone countries will experience a fall. This is quoted from an interview on Reuters.com German weekly Der Spiegel. When asked if he expected the next Greece Portugal had become by the end of this year, Mohamed El-Erian told the magazine: 'Yes, unfortunately it will be the case. ". Portugal's economy is expected to fall 3.3 percent this year - the deepest decline since the 1970s - due to the government to implement austerity measures in the bailout of 78 billion euros (U.S. $ 103 billion) of the European Union and International Monetary Fund. El-Erian, co-chief is also PIMCO said that the first bail-out package will be sufficient Portugal, encouraged to ask for more funding of the EU and the IMF. "Then there will be a big debate about how to divide the load between the European Union, creditors, the IMF and European Central Bank. And then the financial market will be nervous because they are worried about the participation of the private sector," he said. El Erian said this year will show whether the euro zone will fall apart or become an entity smaller but more powerful, with the first option to be 'less but definitely not to be ruled out'. He expects the euro zone could emerge from the crisis very quickly if its members 'finally took the initiative'. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 19, 2012 Author Report Share Posted March 19, 2012 News and Review of European Economic Zone Euro touch its strongest level against the yen in 4.5 months Monday, March 19, 2012 Movement of the euro this morning hit the most powerful in the last 4.5 months versus the yen. This morning, the euro touched 110.15 yen positions. This is the strongest level since last October 31, 2011. At 10:02 pm Tokyo time, the position of the euro was little changed from its March 16 in New York that is 109.95. In the meantime, if dealing with the U.S. dollar, the euro exchange rate was in the position of U.S. $ 1.3170 from U.S. $ 1.3175 on March 16 last. While the yen weakened to 83.47 per U.S. dollar positions from the previous 83.43 per U.S. dollar. On 15 March, the yen was perched on the position of 84.18 per U.S. dollar, which is the weakest level since last 13 April 2011. Might the euro this morning, allegedly linked to German Chancellor Angela Merkel's statement explaining that European leaders had discussed to combine the bailout funds in the European region. "The market will welcome the positive combination of the two financial bailout plan. Rare anything that is intended to overcome the debt crisis of Europe will be well received. It is also a positive impact on the euro," said Sean Callow, senior currency strategist at Westpac Banking Corp. in Sydney. Quote Link to comment Share on other sites More sharing options...
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