Cash I received



giovedì 29 settembre 2011

Euro Continues Its 4-Day Rally on New Prospects for Stability

The euro is rising for the fourth day in a row on the Forex market today, following the successful pass of the anti-crisis vote in Greece, “stability bonds” talks in eurozone and a possible revival of the corporate bond market in Europe.

Lately, the single European currency is a major headliner of the Forex market news, as the European debt problems are a major headliner of the financial news nowadays. The euro is currently demonstrating its fourth day of growth in a row against the US dollar and the first one after 3 days of losses against the British pound.

The currency benefits from the yesterday’s victory of Greek Prime Minister George Papandreou‘s party in the vote for the property tax, which will help reducing public debt in the country, decreasing the chance of the credit default. Additionally, the markets are filled with the optimism, as European Commission President José Manuel Barroso talked today about introducing “stability bonds” in the eurozone — a kind of joint EZ bonds with shared responsibility. Such bonds may become available to the investors only when the union will reach a certain level of ”integration and discipline”.

The stock market has also played its role in the euro’s growth today as it recovered from the early morning fall. Stock market optimism is supported with the news of increase of the collateral bonds usage in the European corporate sector, which may give a second breath to that bond market.

EUR/USD rose from 1.3586 to 1.3613 as of 9:42 GMT today. EUR/GBP increased from 0.8692 to 0.8713 today, while EUR/CHF (although it isn’t a part of the ”free” Forex market) is demonstrating a rise from 1.2178 to 1.2203.

5 commenti:

  1. As far as I'm concern let it raise..my payments are in euros ^^

    RispondiElimina
  2. well at last some good news in europe

    RispondiElimina
  3. this is a good new :P
    nice post

    RispondiElimina
  4. I really need to learn to understand this. Interesting stuff!

    RispondiElimina

Pubblicità