Daily review 26/06/12
Asian stock markets trading today (Tuesday) in a mixed trend with a tendency to decline after a negative close on Wall Street last night.
Investors in Asia and around the world continue to monitor developments in Europe towards the summit of Eurozone’s leaders on Thursday.
Wall Street closed yesterday in price deceases, on the background of concerns about the continued deterioration of the Europe.
European trading also took place yesterday in declines up to 2.8% (Spain). Commodities arena continued to concentrate great interest yesterday, as oil prices fell by 0.7% to the price of 79 dollars per barrel.
In early trading today the oil price goes down and the barrel is traded under 79 dollars.
In Europe, the Spanish government yesterday filed a request for financial assistance from the EU institutions.
Spain released the results of stress tests conducted by the two private consulting firms it hired a few days ago.
According to the most extreme case, results Spain's capital would need about 62 billion euros "only" – less than the credit limit given by the EU institutions, valued at approximately 100 billion euros.
Cyprus is the next country in Europe that seeks for external rescue.
Earlier this month the finance minister of Cyprus stated that the banks in the small island must pay their debts until the end of the month, the government announced yesterday that it need rescue from the financial assistance of European Union (the EFSF and-ESM).
Italy and Spain governments today are expected to issue - government bonds.
Italy will issue bonds to 3 billion euros and Spain will issue short-term bonds (3 months and 6 months) in similar scale.
DOW 1.09% ↓ S&P 1.60%↓ NSDQ 1.95% ↓
EUR / USD:
EUR/USD trading at 1.2513 an increase of 0.07% in writing.
The pair may find support at 1.2468 Monday low and resistance at- 1.2583 Friday high.
Meanwhile, the Euro gain strength against the British Pound and against the Japanese Yen, when the -EUR/GBP add a 0.03% to 0.8028 and –EUR/JPY add 0.07% to 99.67.
The British Pound gains strength against the U.S Dollar today, trading at 1.5587 an increase of 0.09%.
The pair may find support at 1.5537 Monday low and resistance at 1.5632 Friday high.
Meanwhile, the British Pound weakens against the Euro and gain strength against the Japanese Yen, while the EUR/GBP add a 0.03% to 0.8028 and the GBP/JPY add 0.19% to 124.28.
The U.S Dollar weakens against the Canadian Dollar today, trading at 1.0277 a decrease of 0.12%.
The pair may find support at 1.0240 Friday low and resistance at 1.0316 Monday high.
Meanwhile, the U.S Dollar weakens against the Euro and against the British pound, while the EUR /USD add 0.07% to 1.2513 and the GBP/USD add 0.09% to 1.5587.
WTI- Crude Oil:
The WTI weakens today, trading at 79.01 a decrease of 0.23%.
May find support at 77.53 Friday low and resistance at 81.15 Thursday high.