EURO NEWS:The Euro falls below 1.2150 dollar, a new low since June 2010

The euro slipped below 1.2150 usd on Friday for the first time since June 2010, in a market weighed down by concerns over Spain, the country has lowered its growth outlook for 2013 and 2014, fueling concerns about the future of the euro area.

Around 1400 GMT , the euro fell to 1.2144 dollars, its lowest level since June 14, 2010. He had returned the previous week with levels seen for two years down July 13 at 1.2163 dollar.

At the same time, the euro slipped to 95.42 yen, its lowest level since November 29, 2000 against the Japanese currency. He had already descended on June 1 at 95.60 yen, its lowest level in eleven and a half.
This renewed weakness of the single currency was due to "concerns about a resurgence of Spain", whose gloomy economic situation and high debts continue to alarm investors, watching Steve Englander.

The Spanish economy is expected to contract 1.5% in 2012, against 1.7% previously forecast, a recession is slightly lower than expected, said Friday the Spanish Ministry of the budget, while revising its forecast down slightly from growth for 2013 and 3014.

"There are fears that the new forecast (Spanish government) is even too optimistic," Mr. Englander noted.
Sign of investor wariness, the yield on 10-year bond was stretched from Spain Friday again above 7%, a level considered unsustainable in the long run.

Investors deserting the euro currency considered safer, like the dollar and the yen, seeming to disregard the green light given by the Euro group on Friday plan to help Spanish banks, which provides an envelope that can go up to 100 billion euro.

As noted by Michael Hewson, analyst at CMC Markets, the fact that "money lent must pass by the Spanish Government, thus adding to the fiscal burden of Madrid, making markets nervous."

EURO NEWS: Quarterly Treasury auction 1.25 billion in 17/7

Quarterly Treasury auction of 1.25 billion Euros will carry the Greek government on July 17, according to a statement of the PDMA.

Specifically, Tuesday, July 17, 2012 will be conducted Treasury Bill Auction 13-week Greek government in dematerialized form, amounting to 1,250 million euro, maturing October 19, 2012.

The date of settlement (settlement) will be Friday, July 20, 2012 (T +3).
The interest on Treasury bills are calculated on time basis ACT/360.

The auction will take place through competitive bids by Primary Dealers in I.D.A.T., according to the procedure provided by the Operating Regulations.

Also, under the Rules of Primary Dealers provided the opportunity to submit non-competitive bids, both during the days of the auction, and during a period of 2 working days after this, and hours until 12:00 p.m. the second business day. Non-competitive bids will meet the price of the last accepted bid in the auction (cut-off price) totaling up to 30% of the auctioned amount for each of the above two cases.

For Treasury bills will not be given any commission.

EURO NEWS:The euro declined against the dollar, global economic growth worries

The euro lost ground against the usd Thursday, falling to a new low for two years against the greenback in a market still worried about global growth.

Around 0900 GMT, the euro bought 1.2218 dollars, against 1.2238 dollars on Tuesday to 2100 GMT, after falling to 1.2208 dollars around 7:40 GMT, its lowest level since early July 2010.

The dollar also fell against the yen at 79.34 yen against 79.74 yen late Wednesday.

"The single currency fell to a new low for two years against the dollar after the confirmation within minutes of the FOMC (the Monetary Policy Committee of the Fed, ie) that new asset purchases were not in Agenda of the meeting, "commented Craig Erlam, an analyst at Alpari UK.

The minutes of the meeting showed that indeed the institution was ready to "further action" in favor of growth but remained divided on their nature and especially when to intervene, despite signs of slower recovery of the world's largest economy and labor market always dull.

Traders were expecting that to be discussed further injections of liquidity into the U.S. economy, which have the effect of diluting the value of the dollar and thus make it less attractive to speculative investors.

In addition, "investors remain nervous before the report on Chinese growth expected Friday, and that should point to a hard landing of the second world economy (and engine of the global recovery, ed) by reporting the weakest expansion since the beginning of the crisis, "noted Anita Paluch, an analyst at Gekko Markets.

Investors worried about the strength of world economic growth and fled Thursday assets deemed at risk, as the single European currency, to favor the safe haven that is the dollar and the yen.

Around 0900 GMT, the pound sterling remained almost stable against the euro at 79.01 pence per euro, and declined slightly against the greenback at 1.5464 dollar.

The Swiss franc was stable against the euro, Swiss franc to 1.2009 per euro, and retreated against the greenback at 0.9828 Swiss francs to the dollar.

The ounce of gold was 1,567 against $ 1,577 dollars on Wednesday evening.

Euro News: The actions of central banks failed to impress the Euro markets

Dissatisfaction prevailed in European stock exchanges Thursday with the indices closing at Discount ground failing to find support measures in the monetary easing of central banks in Europe and China. The chtipima set the sign given by the President of the European Central Bank, Mario Draghi, who said the high uncertainty continues to weigh on confidence and the economic climate.

At the press conference after the ECB's decision to lead new historic low interest rates by Mario Draghi spoke of "sluggish" growth in the Euro zone, while noting that some of the downside risks to growth outlook materialize.

The ECB cut today by 25 basis points the interest rate on main refinancing operations to 0.75% and the marginal lending rate and deposit at 1.50% and 0.00% respectively.

This followed the announcement of China's central bank to reduce the reference to the deposits and loans, the 12-month lending rates to fall by 0.31% and deposit rates to fall by 0.25%.

At the same time extending the program bond market and maintain its main interest rate to 0.50%, decided by the central bank of England (BoE).

Investor interest also turned to government debt auctions in Ireland to come out successfully in the markets for the first time since September 2010, when he received the bailout.

In particular, the body managing the country's public debt today drew the requested amount of 500 million auction Treasury bills 3 months duration. The rate stood at 1, 8% and the coverage degree of 2.8. Settlement date is set July 9, 2012.

At the same time as Spain raised the maximum requested amount of 3 billion in today's auction of bonds of different maturities. Increased performance was at 4-year and 10 year bonds, while slightly lower was the rate of three-year securities. The government would sell bonds to the amount of 2 to 3 billion.

Spain managed to raise the maximum amount requested but the overall results are interpreted as "mixed but well," says trader in the bond market Dow Jones Newswires.

The pan-European Stoxx Europe 600 index fell 0.2% to 256.93 points, while the estimator of the state of the stock markets of member countries of the Euro zone, the Euro Stoxx 50 lost 1.21%.

The German DAX 30 fell 0.47% to 6,534 units, the French CAC 40 fell 1.16% at 3229.80 points, while the UK FTSE 100 simeiiose small gains 0.13% at 5691.80 points.

EURO News: Under the USD 1.26 decline in euro

 

Moves downward against the USD, with investors reluctant to appear on the document the Finish government came to publicity and reports that Finland and the Netherlands will block the Summit decision to buy government bonds on the secondary market from the ESM.

Markets, despite strong gains recorded Friday seems now realize the truth, says analyst Nomura, Geoff Kendrick at Bloomberg. "All eyes now turn to the ECB meeting later in the week," he added.

Further, the EUR decreases by 0.49% against the USD and stands at $ 1.2596. Recall that at the end of last week the EUR had gained 1.8%.

USD News: Over USD 1.600 gold with a jump of 3.5%

He returned more than 1600 USD gold Friday noting jump above 50 USD as the USD was to be aware of heavy losses against the EUR after the announcements of European leaders in Brussels.

The contract of gold August delivery gained 53.80 USD or 3.5% to complete transactions at 1604.20 USD per ounce on the Commodity Exchange in New York. The precious metal recorded weekly gain 2% and in monthly strengthened to 2.8%.

For the quarter March - June, however, gold recorded a fall of 4%.

After completing the marathon negotiations in Brussels, European leaders announced that they will allow the use of mechanisms to rescue euro zone to recapitalize their banks to finally break the vicious circle between banking and debt.

At the same time the leaders decided to move to a single supervisory mechanism in which it participates and the European Central Bank taking a central role.

They also agreed to use existing mechanisms for rescue to stabilize the markets of the Member States comply with the recommendations and have complied with their commitments.

Regarding the progress of other metals July silver gained 1.33 USD or 5.1% to 27.58 USD per ounce. For the week the precious metal rose 3.4%, but on a monthly and quarterly basis fell 0.6% and 15% respectively.

Copper has completed transactions in July by jumping 4.9% to 3.49 USD a pound. In week won 5.6% and 3.8% this month. For the quarter, however, recorded a loss of 8.7%.

The July platinum gained 62.70 USD or 4.5% to close at 1449.10 USD per ounce by ending the week with gains of 1%. On a monthly basis rose 2%, while in the quarter fell 12%.

September palladium rose 20.65 USD or 3.7% completing transactions at 584.55 USD per ounce. For the week the precious metal slumped 4%, while monthly lost 5%. In the quarter recorded large losses of 11%.