Euro may reach record weekly drop in 3 months

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Source: Bloomberg

17-nation currency shifted for the sharpest weekly fall versus the US dollar in 3months as European countries prepare for bond auctions on forthcoming week amid worries EU leaders can't tame the region's crisis. This week euro managed to breach a psychological level of $1.30. Currently EUR/USD is trading at $1.3027.

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Fri, 16 Dec 2011 07:19:42 GMT

Aussie and Kiwi recover for the second day in a row

The New Zealand and Australian dollars appreciated for the second consecutive day after Asian shares surged, boosting demand for riskier assets. Australian dollar added 0.6% to $0.9985 in Sydney, while its New Zealand's peer climbed 1% reaching $0.7609. Both currencies appreciated against Japanese yen. AUD/USD currently is trading at $0.9980 and NZD/USD is trading at $0.7593.

Fri, 16 Dec 2011 07:20:56 GMT

Monti to face a confidence vote on austerity package

Italian PM Mario Monti today will face a confidence vote to hurry a budget proposal of 30 bn euro ($39 bn) emergency plan to stimulate growth and regain investor confidence that Italy can reduce its debt. Monti's government is urging lawmakers to vote in favour otherwise the government may fall. Monti's proposed measures include reforms in pension and tax system.

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