Mix Trading in Market Despite Cheerful German Bond Auction

Mix Trading in Market Despite Cheerful German Bond Auction
Mix Trading in Market Despite Cheerful German Bond Auction
Markets turn mix despite the German and Portuguese bond auction that showed an incline in demand, and that made investors to buy more Euros, so the euro rose against US dollar, while stocks in Europe went red.

The euro advanced sharply against the U.S dollar after the International Monetary Fund said that it could expand its capacity to 1 trillion dollars from 385 billion dollar in order to support the global economy and prevent the debt crisis from spreading outside the euro-area region.

The German successful bond sale also added positivity to the market and supported the euro to hold onto the gains despite the government’s act of revising growth forecasts.

In Europe, CAC 40 declined nearly 0.30%, while DAX inclined by 0.30%, while in US, Dow Jones rose nearly 0.35%, S&P 500 inclined by 0.45%, and NASDAQ rose by 0.76%.

In Currencies market, the euro inclined against USD trading around $1.2809 compared with opening levels at $1.2735, as demand for higher yielding assets increased somehow, while the pound rose trading at $1.5402.

The USD lost the momentum today trading around the 80.74 level, while the USD/YEN pair returned to opening levels to trade at 76.79. The AUD/USD pair inclined trading around the 1.0393, where gold rose trading around $1655.84, and oil dropped trading at $100.23.

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