Overnight deposits in the ECB hit new record

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Source: Marketwatch

The ECB overnight deposits hit another record on the market tensions and end of the month reserve period of the ECB. Banks deposited 346.357 billion euros overnight on Monday as compared to previous record of 334.905 billion euros deposited on Friday. The increase reflects continuous distrust in lending between banks.

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Tue, 13 Dec 2011 10:38:04 GMT

GBP/USD increased ahead of Fed decision

The pound edged up against the US dollar on the improved market confidence before the Fed's rate decision. GBP/USD approached to 1.5626 at the early European trade, being the daily high, gaining 0.11% since opening. Investors also anticipate the report on UK's CPI due later today.

Tue, 13 Dec 2011 17:37:40 GMT

Canada to abandon Kyoto protocol

On Monday Canada became the first nation that claimed it will quit Kyoto protocol. Peter Kent, Environment Minister made an announcement of Canada's abandonment after he returned from summit in Durban. Canada, a leading energy producer has complained extensively that Kyoto protocol does not work as it ignores too many important emitters such as India and China. 

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