The single European currency retained going to the foreign exchange market this morning. Prior to the release of U.S. growth for the last quarter of 2011, traders will still show optimism about the crisis in the euro area. Around 24:55, the euro is thus 0.29% to 1.3144 dollars, more than five cents above the low of this short year.
Slight increases of 0.10% is recorded against the pound sterling (0.8363) and the Swiss franc (1.2749). In contrast, the European currency lost ground against the yen (- 0.4% to 101.1 yen).
Greece, which obviously only to find common ground with its creditors, seems out of fashion. “Investors seem to want to move on considering that the Greek drama can not end on a wild default destroy the efforts of the ECB ‘, says Barclays stock.
In general, the perception that the euro area is slowly but surely to a crisis is growing in the markets. “The European Summit (January 30) should give rise to more rapid progress in tax co-ordination in order to stimulate growth and employment. Access to bank financing to SMEs should be facilitated, “wrote the team elsewhere Changes of Pictet & Cie.
Also this morning, after a successful bond issue, interest rates at 10 years of SWFs in Italy fell to 5.87%, moving away a little over 7% of fateful. In Spain, the rate returned to 4.90%. However, the case of Portugal always worried and ’10 years’ Portuguese, to 14.87% at this hour in the morning exceeded the threshold of 15% for the first time.
If the U.S. economy could show signs of force, the deterioration of the situation is confirmed in Spain, where the unemployment rate rose 1.3 points to 22.8% last quarter. The number of unemployed in the country has surpassed the five million. But attention is focused elsewhere.
Traders should watch carefully, in the early afternoon, U.S. growth in the fourth quarter of 2011 expected to rebound to 3%, after slowing to 1.8% in Q3. Consumption is expected to rise 2.4%.
They seem, however, consider the interpretation that will give this figure as too vigorous growth could undermine the hopes for new measures of monetary support by the Fed. ‘Beyond the overall figure of growth, the market reaction may depend on the components of growth. It will identify those one-off items that will be more sustainable ‘, also prevents an analyst Aurel BGC.
U.S. another statistic for the index of consumer confidence as measured by the University of Michigan in January, which should come out unchanged at 74 points.
