Australian customer confidence bolstered by lowered lending rate

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Source: Bloomberg
© Scanpix/AFP

Australia's consumer sentiment rallied as Reserve Bank lowered interest rates first time in almost three years. Melbourne Institute index measuring consumer confidence climbed 6.3% to 103.4.  Consumer confidence climbed third month in a row. In same time the number of approved home loans has increased by 2.2% from August, indicating market recovery.

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Thu, 10 Nov 2011 07:41:47 GMT

Italy bond confrontation threats Euro

On Wednesday investors drove Italian 10-year borrowing rate nearby euro-era record above 7% as Berlusconi's promise to quit did not persuade them that Italy will be able to cut its debt burden. Italy's debt worth $2.6 trillion beats of that of Spain, Greece Ireland and Portugal combined.  However, unlike those countries, Italy is the 8th major economy possessing 3rd biggest bond market.

Thu, 10 Nov 2011 13:17:52 GMT

British Pound to reach a monthly record high against Euro

The Pound is about to reach one-month record high against Eurozone currency. The appreciation of Pound takes place ahead of Berlusconi's budget vote and suggest British assets to be safe investment. On Nov 1 EUR/GBP reached 0.8548, the highest since Oct 4. Today the Sterling traded 0.8574 pounds per euro at 9.06 a.m London trading session.

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