On the currency market, the single European currency was bouyant with optimism after the vote by which the German Parliament ratified the European scheme adopted in late July. At this time, the euro is 0.80% to 1.3634 dollar. The euro is also 1.2205 Swiss francs (0.17%), 0.8716 pound (0.33%) and 104.57 yen (0.40%).
Markets have focused their hopes in recent days on the ratification by the Members of the German European plan adopted July 21 ‘, pointed out this morning, Barclays stock. The vote took place this afternoon in the Bundestag. His result seems, at this time and as expected, very positive, but is not yet final. The exact modalities and political implications of this election in Germany will also be closely monitored.
‘It is also today that the Troika (IMF, ECB, EU) returned to Greece, paving the way for the payment of eight billion euros in loans that Athens is absolutely necessary to bond maturity of 14 October. However, the Eurogroup will meet again in October to discuss the payment of this sixth installment. So, there are voices saying that it seems impossible that the payment can be done in time ‘, the analysts add.
In Geneva, Pictet & Cie traders display despite their pessimism. To Carlos Costa, the European Central Bank, the European Stabilization Fund will not be strong enough if no decision is made to create an economic government the EU. The danger did he take such an extent that the amounts made available seem insufficient to resolve the debt crisis? Would we lost control of our national finances. The statements of officials are fearing the worst.
Aurel BGC analysts wrote this morning: The news, especially in Europe, is poor. The main risks remain on Greece.
In terms of statistics, the market is aware of the unemployment figures in Germany for the month of September. The number of unemployed fell by 149,000 to 2,796,000 over the previous month and the unemployment rate fell 0.4% to 6.6%. According to a professional, this is the level of the lowest unemployment since the reunification of Germany, twenty years ago.
But we also learned that economic sentiment in Europe had deteriorated sharply in September, according to data released Thursday by the European Commission. The ESI shows a decrease of 3.4 percentage points to 94 across the European Union and also shows a decline of 3.4 percentage points to 95 with respect to the euro area. In a statement, Brussels says the decline in heavy losses of confidence in the sectors of industry and services.
