Euro posts the biggest daily jump this year

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Source: Bloomberg
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The 17 nation currency rallied most in 2012 on Thursday after European officials lessened rules on loans to Spain's banks and signalled more support to Italy. Euro jumped 1.5% versus U.S. Dollar on Thursday, the biggest daily gain since November 2011 and added 1% during London morning trade on Friday. Currently EUR/USD is trading at 1.2581.
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Fri, 29 Jun 2012 12:42:24 GMT

Gold tumbled on rising risk-aversion

Precious metals tumbled on Thursday amid stronger US Dollar and weaker global equities. Disappointing EU summit also created additional pressure on the commodity group.Gold declined on rising risk-aversion in the markets as investors doubt in EU leaders ability to resolve debt crisis in the region. Silver decreased amid softer equities worldwide. Strengthening US Dollar also weighed on the white metal.

Fri, 29 Jun 2012 11:39:25 GMT

China's Industrial Companies Profits decline

Profits of Chinese industrial companies shrank for a second consecutive month in May owing to economic slowdown. According to the National Bureau of Statistics, income declined by 5.3% from 2012 to USD61 billion. It is expected that the Chinese government may introduce measures to foster economic growth by stabilizing international trade and investing in infrastructure development. 

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