Euro climbs against Yen on ECB bond plan

Source: Bloomberg
The Euro increased versus most of its major peers as German government supported the ECB's proposal on bond buying to stabilize borrowing costs in Italy and Spain. On Tuesday, the Euro gained 0.3% to 97.35 Yen after touching 97.80 yesterday, the highest since July 12. The Euro also rose 0.1% to $1.2417.
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Tue, 07 Aug 2012 11:54:11 GMT

Gold rose on weaker US Dollar

Precious metals were mixed on Monday, with gold and silver moving higher and platinum and palladium retreating. Weaker US Dollar coupled with easing concerns over the Eurozone's crisis supported the commodity group. Gold advanced by 0.44% on softer greenback. Meanwhile, hopes for decisive action from the ECB and Fed also bolstered the yellow metal. Silver followed gold's suit, rising by 0.34%. Stronger

Tue, 07 Aug 2012 16:32:10 GMT

European consumers spent less in the second quarter

As European governments are implementing austerity measures in order to curb the debt crisis, consumers are reining in spending as well. Consumers in France spent 0.2 per cent less during the second quarter. Meanwhile, consumer confidence in the Eurozone reached three-year low in August. Moreover, companies included in the European Stoxx 600 Index reported lower quarterly earnings and overall consumer spending on services and

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