China lowered borrowing costs

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

China has taken the decision to decrease borrowing costs to manage the current recession as Europe's current slowdown jeopardizes global development. According to the People's Bank of China, the lending percentage for one year will be lowered from 6.56% to 6.31% effective 7 June. In addition, the deposit percentage for one year will drop from 3.5% to 3.25%.

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Thu, 07 Jun 2012 19:55:26 GMT

EUR rose against JPY, reaching 2-week high

The Euro climbed versus the Yen, reaching 2-week high on China rate cut and successful auction of Spanish government debt. EUR/JPY reached 100.47, which is a two-week high, and consolidated at 100.43, gaining 0.80% in the European afternoon trading session. The pair's support was likely to be found at 99.35, and resistance was prone to be at 101.46.

Thu, 07 Jun 2012 19:33:27 GMT

GBP/USD trimmed gains on disappointing Fed comments

Cable trimmed gains on Thursday, as the Chairman of the Federal Reserve disappointed expectations of the market for further stimulus. GBP/USD peaked at 1.5600, a one week-high, and consolidated at 1.5553, which is still a 0.37% gain in the U.S. morning trading session. The support was likely to be at 1.5428, and resistance was prone to be found at 1.5643.

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