Market news
20.07.2011, 12:28

European session:

The dollar fell to its weakest in almost a week against the euro as stocks rose amid speculation policy makers are moving closer to resolving a deadlock on U.S. borrowing and to finding an agreement on Europe’s debt crisis.
Spanish and Italian bonds rose a second day before French President Nicolas Sarkozy and German Chancellor Angela Merkel meet to seek common ground on tackling the region’s debt woes.
“Hope springs eternal,” said Sebastien Galy, a senior foreign-exchange strategist at Societe Generale SA in London. “Equities are probably going to continue to do quite well and since the main funding currency is the dollar, the net effect is going to be dollar-negative.”
Euro-area leaders are preparing for the second meeting in a month to hammer out a solution to the Greek debt crisis, which pushed the euro to $1.3837 last week, the lowest level since March. Sarkozy will dine with Merkel in Berlin today before the debt summit in Brussels tomorrow
The gathering could be a “make-or-break moment” for the euro region, Greek Prime Minister George Papandreou said in an interview.
The yield on 10-year Italian bonds fell 13 basis points to 5.60 percent and the Spanish 10-year yield was 14 basis points lower, at 5.96 percent.
Officials are considering steps previously rejected by Germany, including the use of precautionary credit lines, to prevent the crisis spreading, a person close to the talks said.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location