Spain does not need a full bailout

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Source: The Wall Street Journal
The Spanish government reiterated that the country does not need a full bailout to help the ailing regions, despite having to pay a euro-era high interest rates for short-term debts, after he government decided to ask for financial aid of100 billion Euro to prop up its banking sector. The officials agreed that it might be too perilous to establish a new financing instrument by the end of June. 
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Fri, 29 Jun 2012 06:51:28 GMT

The Euro rallied on the positive news coming from the EU summit

Following the decision of European leaders to ease Spanish debt terms, the Euro soared against its major counterparts. The European shared currency jumped 1.1 percent to  1.2579 US Dollars and surged 0.9 percent to 99.77 Yen. The EU officials are meeting in Brussels to discuss measures to combat the debt crisis, which forced five Eurozone members to seek bailouts. 

Thu, 28 Jun 2012 14:24:23 GMT

Wheat rose on potential crop forecast cut

Rural commodities, excluding coffee, soared on Wednesday as weather conditions in the main growing regions remained unfavorable while anticipation of the EU summit continued to put investors off riskier assets.Wheat extended previous gains on speculation that USDA will cut its forecast for 2012-23 production in July. Moreover, traders are cautious ahead of USDA export sales report release due on Thursday.Corn

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