A wait was up this afternoon after a wave of concern has swept the eve of the foreign exchange market. The prospect of the EU summit, starting Thursday, will bring together Heads of State and Union government actually encourages caution.
To 13 hours, the eur remains stable (- 0.07%) to 1.2494 usd. It fits in hand down against the yen (- 0.37% to 99.20 yen, the eur) and sterling (- 0.47% to 0.7990), neutrality is always appreciated against the Swiss franc Swiss (1.2010 franc Eur).
The atmosphere is much optimism vis-à-vis the future of the eur area. Yesterday, Spain filed its request for assistance to the eur area to recapitalize its banking sector, the envelope up to 130 billion eur. "Traders have again sought the safety of the greenback, especially since the Federal Reserve decided last week not to embark on a new quantitative easing program, opting instead for an extension of its operation Twist '", commented the specialists. This is all that Moody's has already downgraded the debt of nearly thirty Spanish banks.
Pending on the secondary market yield on government bonds in Spain dates back 10 years and stood at noon to 6.71%.
It will likely wait until Thursday for a clearer leadership emerges only. According to the agenda currently available, the European Council in Brussels will begin Thursday, June 28th at 2:15 p.m. ET the following day will end Friday. "The European Council set the directions for growth and employment in the short to medium term as part of fiscal consolidation efforts are being made intelligent," it said in the agenda. Press conferences are planned on Thursday night and Friday.
"The outcome of the meeting last Friday between the leaders of French, German, Spanish and Italian made no concrete solution to the crisis of sovereign debt, fueling fears instead of a negative outcome also at the summit Brussels ".
It is not more excited at Aurel BGC: "Angela Merkel's statements have dampened the enthusiasm born of some investors. German chancellor rejects bulk Eurobonds, the Eurobills and the possibility of a European guarantee of deposits, which it considers unfounded an economically-productive and against '.
"The caution is around the eur area still worried investors as" abounds Saxo Bank. In addition, Cyprus could take over from Spain on the list of States in search of funds. The island may request "an amount estimated at between 6 and 10 billion eur, or about more than 25% of GDP", calculates Saxo.
Side of U.S. statistics of the afternoon, is expected mainly consumer confidence index calculated by the Conference Board. it is expected to decline in June from 64.9 to 64, against a background of domestic economic statistics have disappointed in recent weeks.
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