Market Trying to Survive In Central Europe Anxiety. Most European stocks were able to move up amid cautious trading on Thursday, as U.S. President Barack Obama and Congress returned to Washington to resume discussions on measures to avoid the fiscal abyss. With only 3 trading days remaining until the end of the year, uncertainty over U.S. fiscal problem handling has made market participants more reluctant to enter the market.
Germany's DAX and CAC40 French were able to survive in the green zone, with each collecting 0.25% and 0.65%. While the UK's FTSE trailed by about 0.2% gain. Dreadful news came from Europe, where the shareholders Bankia likely to face huge losses after Spain bank rescue funds announced negative valuation firm which reached € 4.2 billion. Bankia own shares dropped about 12.5% in early trading session on Thursday. Meanwhile, Italy's Mario Monti reported back to reap the support of a number of central politicians. It makes scents competition with Silvio Berlusconi intensified ahead of the elections on February 24 to 25 next year.
Pound Rally Psychological Approach Resistant 1.6200
Pound as demand rebounded fairly high end of the range of corporate against Sterling currency, and hedging needs of the central bank as the focus fixed on the last attempt to end the Washington fiscal cliff. The opening of London session marred GBPUSD currency pair rallied to a higher level and exceed the highest point of the previous day in the range of 1.6170 and 1.6200 psychological level test so far. Technically, intraday bias remains bullish, but it takes consistent penetration above the 1.6205 area for targeting the next resistance area in the range of 1.6240 - 1.6255. On the bottom side, look at the area nearest support 1.6177 and 1.6158.
UK mortgage approvals Hold Sterling Performance
Sterling rose on the London session, supported by data approval mortgage (mortgage) which sinyalkan the continued momentum of the recovery of the UK economy. The number of mortgages approved by UK banks increased from 33,000 to 33,600 for the month of November. GBP / USD is now trading 1.6166; near 1.6179 daily high level UK has emerged from recession in the third quarter of 2012. However, the protracted European debt problems and high inflation, some analysts worry the momentum of the recovery may not last long. Data last week showed even quarterly downward revision of economic growth of 1% to 0.9% for the third quarter of 2012. However, increasing the data distribution agreement kpr certainly provide hope for the continued momentum of economic growth.
Optimism French and Italian Support Euro
The euro gained after French consumer confidence data and Italian business confidence expectations given the euro-zone economy to get out of recession in the near future. French consumer confidence index rose from 84 to 86 for the month of November. Italian business confidence index rose from 88.5 to 88.9 for the month of December. EUR / USD is now trading 1.3268, close to the level of 1.3275 daily high
"Consumers are more optimistic about the French financial situation and standard of living even though they expect the unemployment rate will rise," said the Central Bureau of Statistics France, Insee. This represents an increase in consumer confidence for the first time in seven months. "The increasing number of production orders successfully raised Italian business confidence," said the Central Bureau of Statistics Italy, ISTAT. "However, the business was given a bleak outlook for production and inventory and re-express fears of a protracted recession."
Germany's DAX and CAC40 French were able to survive in the green zone, with each collecting 0.25% and 0.65%. While the UK's FTSE trailed by about 0.2% gain. Dreadful news came from Europe, where the shareholders Bankia likely to face huge losses after Spain bank rescue funds announced negative valuation firm which reached € 4.2 billion. Bankia own shares dropped about 12.5% in early trading session on Thursday. Meanwhile, Italy's Mario Monti reported back to reap the support of a number of central politicians. It makes scents competition with Silvio Berlusconi intensified ahead of the elections on February 24 to 25 next year.
Pound Rally Psychological Approach Resistant 1.6200
Pound as demand rebounded fairly high end of the range of corporate against Sterling currency, and hedging needs of the central bank as the focus fixed on the last attempt to end the Washington fiscal cliff. The opening of London session marred GBPUSD currency pair rallied to a higher level and exceed the highest point of the previous day in the range of 1.6170 and 1.6200 psychological level test so far. Technically, intraday bias remains bullish, but it takes consistent penetration above the 1.6205 area for targeting the next resistance area in the range of 1.6240 - 1.6255. On the bottom side, look at the area nearest support 1.6177 and 1.6158.
UK mortgage approvals Hold Sterling Performance
Sterling rose on the London session, supported by data approval mortgage (mortgage) which sinyalkan the continued momentum of the recovery of the UK economy. The number of mortgages approved by UK banks increased from 33,000 to 33,600 for the month of November. GBP / USD is now trading 1.6166; near 1.6179 daily high level UK has emerged from recession in the third quarter of 2012. However, the protracted European debt problems and high inflation, some analysts worry the momentum of the recovery may not last long. Data last week showed even quarterly downward revision of economic growth of 1% to 0.9% for the third quarter of 2012. However, increasing the data distribution agreement kpr certainly provide hope for the continued momentum of economic growth.
Optimism French and Italian Support Euro
The euro gained after French consumer confidence data and Italian business confidence expectations given the euro-zone economy to get out of recession in the near future. French consumer confidence index rose from 84 to 86 for the month of November. Italian business confidence index rose from 88.5 to 88.9 for the month of December. EUR / USD is now trading 1.3268, close to the level of 1.3275 daily high
"Consumers are more optimistic about the French financial situation and standard of living even though they expect the unemployment rate will rise," said the Central Bureau of Statistics France, Insee. This represents an increase in consumer confidence for the first time in seven months. "The increasing number of production orders successfully raised Italian business confidence," said the Central Bureau of Statistics Italy, ISTAT. "However, the business was given a bleak outlook for production and inventory and re-express fears of a protracted recession."
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