Daily review 27/07/12
Daily review 27/07/12
Mario Draghi the Governor of the European Central Bank stated that decision makers will do whatever is necessary to ensure the rescue system of the single currency (Euro), also praised, the euro zone and it's stronger than some believe. Draghi said also that the firewall is ready to work better than before. Draghi urged decision-makers to do whatever is necessary for the protection of the euro zone from collapse, including the control of the very strong appreciation in the cost of borrowing. After the statements of Draghi came to rising of the Spanish bond yields to dangerous levels over 7%.
The index of Requests of durable goods in the United States for the month of June, rose by 1.6%, so the current reading is higher than the previous reading, which amounted 1.1%, and the current reading is higher than expectations of 0.3%
Index of grant requests in the United States for the weekend of July 21, got decreased for up to 353 thousand applications, the current reading is better than the previous reading, which amounted to 386 thousand requests. The current reading is less than expected, which amounted to 380 thousand request.
The index of jobless claims for the weekend of July 14 got declined to 328,7 thousand requests, the current reading is better than the previous reading, which amounted to 331,4 thousand applications. The current reading is better than expected, which amounted to 330 thousand applications.
After publishing good data on jobless claims and durable goods, which were better than expected in the United States, and after the statement of the Chairman of the Central European Bank , Mario Draghi- Wall Street closed in positive direction, the Dow Jones jumped sharply Standard & Poor's 500 rose for the first time during the five trading day.
European stock markets also closed with an increase , the Madrid Stock Exchange recorded its biggest daily gain since more than two years. Germany's DAX index closed on 6582.96 points, the French CAC 40 closed on 3207.12 points, and the FSTE closed on 5573.16- increase of 1.36%.
