Euro rises against USD

Note: This section contains information in English only.
Source: Forexpros
© Scanpix/AFP

The Euro increased against USD after the successful Belgian auction where the sales exceeded the expected level causing a decline in the Belgium cost of borrowing. The success of the auction signals improving situation in the Eurozone and thus strengthens the Euro. EUR/USD hit 1.3398 during the European afternoon trade gaining 0.90%.

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Mon, 28 Nov 2011 14:53:36 GMT

German DAX rally on investors' hopes

On Monday trade German DAX 30 index advanced rapidly on growing investors' confidence that German and French politicians have agreed on a new stability treaty to restrain crisis. DAX index surged 3.6% reaching 5,690.93. Major winners in the index were Commerzbank and Deutsche Bank AG, each added about 7%. Auto producers Daimler AG and BMW gained 7.5% and 4.92% respectively.

Mon, 28 Nov 2011 15:03:37 GMT

Belgian auction

The government of Belgium sold over 2 billion euros of bonds hitting the expected range despite recent downgrade of its rating by Standard & Poor Rating Services. Bids surpassed supply 2.6 times. The Belgian Debt Agency expected to sell from 1.5 billion to 2 billion euros of bonds in total. The yield on 10-year government bonds decreased by 9 basis points to 5.69%, reported FactSet

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