Apr 30, 2012
Euro debt crisis persists, despite over U.S. $ 1.32
The euro has been able to maintain stable the week beginning on the mark of 1.32 U.S. dollars. Market watchers said the bank holiday before 1 May from a relatively quiet trade without a particularly strong impetus. On Monday afternoon, the euro cost $ 1.3234, thus slightly less than in the morning. At its peak, the euro hit $ 1.3268, almost the highest level since the beginning of the month. The European Central Bank (ECB) had the exchange rate at noon at 1.3214 (Friday: 1.3229) dollars.
Economic data from Spain, which now officially confirm that the fourth-largest economy is €-arrived in the opening quarter the recession all caused a slight strain on the euro. However, the numbers put on the market as no surprise. "The government and the central bank in Madrid had already indicated that for the second decline in overall economic performance occurs as a result," said currency expert Ralf circulation by Landesbank Hessen-Thüringen.
More significant pressure on the single currency had since been able to develop the new figures from the ECB to credit and money supply. Thus, the volume of loans in March for the second month in a row had been declining. "The sluggish lending process, however, is more consequence than the cause of the economic weakness of the euro area," said Postbank expert Thilo Heidrich. The data also show that the massive injections of money the central bank of a total of one billion euros largely not yet reached the real economy.
Among other key currencies, the ECB had set the reference rates for the euro to 0.81295 (0.81530), British pound, 105.85 (106.75) Japanese yen and 1.2018 (1.2014) Swiss francs. In London, the price of the ounce of gold in the afternoon with 1651.25 (Friday: 1663.5) was fixed U.S. dollars. One kilogram of gold was 39700.00 (39500.00) €.
by erectusplus at 11:05 AM |
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