US dollar decreases on growing business confidence in Germany

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Source: Forexpros

The US Dollar was slightly lower against the Euro after news about increased business confidence in Germany. Higher level of confidence backed up the demand for riskier assets; however, debt crisis in the euro-zone still makes the outlook pessimistic. US Dollar is 0.27% lower and EUR/USD is 1.3382.

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Thu, 24 Nov 2011 12:31:45 GMT

Banco de Valencia stocks fall after bailout

Shares of Banco de Valencia, seventh-largest Spain's bank, decreased on Thursday when they restarted trade after its bailout bySpanish central bank. Spain provided EUR1 billion to the Banco de Valencia. During the first 45 minutes shares fell by 22% causing decrease in equity to EUR286 million.

Thu, 24 Nov 2011 11:09:21 GMT

Overseas yuan market will grow

The growth in yuan deposits in Hong Kong slowed down but the overseas market for yuan will continue to rise, said Norman Chan, chief executive of the Hong Kong Monetary Authority.  The inflow-outflow yuan ratio decreased to 0.8-to-1 in September. The decline in yuan deposits does not imply yuan lost appeal in foreign market, the decline is likely to be a short-term, said Chen Daofu,

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