Spain public deficit to exceed target

Note: This section contains information in English only.
Source: Reuters

Spain public deficit in 2011 is expected to be much higher that targeted 6% of the GDP, said Luis de Guindos, Economy Minister on Friday. The announcement increased fears over the indebted Euro Zone and created downward pressure on the Euro which hit the record low against the Yen with the pair EUR/JPY currently trading at ВҐ99.54.

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Mon, 02 Jan 2012 13:54:07 GMT

Gold lost 5.1% on Friday

CME gold futures for delivery in February lost 5.1% or $82.10 during the last trade of 2011 on Friday. The gold shares also saw decline with NYSE Arca Gold Bugs Index decreasing by 6.6%. The move was unexpected by analysts as the gold futures traded higher before the holidays in the 8 years out of last 9, remarked Mitsui, Japanese gold dealer.

Mon, 02 Jan 2012 14:44:46 GMT

German bonds decline on China and India PMI data

German sovereign bonds declined on the first trading day in 2012 as India and China reported an increase in Purchasing Manager's Index boosting optimism world economy may stabilize. The borrowing costs on German 10-year notes added 3 basis points or 0.03% reaching 1.86% on Tuesday morning. Yields for 2-year bonds gained three basis points attaining 0.18%.

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