Posts Tagged: Spain

Today, the euro managed to rise against the US dollar and against other important currencies after the Spain reports considered requesting a line of credit after the credit line from the bailout fund of Europe. The currency climbed to $1.2973 in Tokyo and up to $1.2953 in North America.

The European Council President Herman Van Rompuy has created a plan in order to improve the situation in the euro zone. Gabriele Steinhauser explains how to euro zone plan isn’t have and how it can put the neighboring on a serious edge. The Financial Times stated the fact that the country was prepared to make a formal request, but the announcement was delayed due to the fact that it could affect other euro-zone countries such as Italy.

Michael Turner, the currency strategist at RBC Capital Markets stated the fact that if the story is true and the timing is right, the euro currency can gain further support. Also, Stan Read more »

The Dollar Index achieved a one month high after the debt of Spain was cut off. The euro currency has a weak position against most of its counterparts before Italy has to sell bonds today among the deep economic crisis in Europe. The Australia’s dollar has strengthened its position after the country added workers since May. The yen has recorded a rise although the rest of its rivals have declined.

Europe has shared the currency at a low level of $1.2826 and wasn’t seen at this level since October 1. Was traded as $1.2837 and has decreased 0.3 % from yesterday. This analysis leads to the conclusion that the dollar has reached a higher level. The fiscal outlook in Spain can lead to a fall to a junk status of the currency.

The Dollar Index is used to pursue the dollar against the major currencies. Today, the DXY has reached a level of 80.205, a level Read more »

Traders have finally had the chance to receive some good news on behalf of the European Union whose leaders have finally announced some of the decisions taken at the Group of Twenty summit. These decisions are intended to put an end to the sovereign debt crisis in Europe. The European leaders have decided that private bondholders are to take a nominal 50% cut on the Greek debt. By analyzing the reactions of the market, we can notice that everyone seems quite thrilled about this decision, at least for now. Of course, there are also lots of questions related to this decision which continue to be left unanswered and which will probably be responsible for the decrease of the value of the Euro in the period to come, but, for the moment, everyone seems rather happy with the way things turned out in the matter of the European sovereign debt crisis.

This has had an immediate impact on the Read more »

As the situation in the European Union continues to be tensed, the trading market has a powerful reaction as the risk aversion has triggered a new wave of changes on the market. The safe-havens seem to be favored and the currencies around the world gain based on different speculations related to the evolution of the sovereign debt crisis.

The Euro has managed to regain a little of yesterday’s losses today on the speculation that the policy makers are to increase the rescue fund. The Guardian announced that Germany and France agreed to increase the European Financial Stability Facility from the level of €440 billion ($607 billion) to the one €2 trillion. This change is supposed to take place before the G-20 summit which is to take place this weekend. The Stoxx Europe 600 Index grew by 0.8 percent.

Moody’s has announced the downgrade of another credit rating, that of Spain. This has generated a wave of Read more »

The Euro is faced with difficulties due to the sovereign debt crisis, which tends to become worse in the European Union. Even though the Euro has had a positive week till the moment when Fitch Rating has announced the decision of downgrading Italy and Spain’s credit ratings, the end of the week has brought problems to the currency, making it fall against its major counterparts.

The end of the week has brought the Euro in the situation of deleting all the gains it managed to gain against its major counterparts. These losses are due to the decision taken by Fitch Rating, that of downgrading the credit rating for Italy and Spain, decision which has caused a new wave of concerns among traders, who have been thus reminded that the sovereign debt problem in Europe continues to be a very important problem. Fitch took the decision of downgrading Italy’s credit rating from AA- to A+ and Spain’s credit Read more »