The Economic news Euro – the Euro takes terrain against main currencies
Yesterday, the Euro, registered significant gains against the majority of currencies. The European Stock market registered gains similar to the sight in Wall s$street. Also, Jean Claude Trichet, impelled the confidence, since he affirmed that he will do against the crisis as he must.
Trichet affirmed that rate glides to reduce overnight lending to 0,5%. In the short term it will imply an increase of the demand by Euros. And on the basis of this announcement major will be waited volatileness in the market, mainly with the Euro and its counterparts.
The Euro gained 40 yesterday pips against the pound, and closed in 0.9284. Also, pips against the yen gained about 300 and closed in 126.24. This had partly to the improvement of the stock market in Japan, and to the GIP that occurred to know there, which showed that the Japanese economy was contracted 3,2% during the fourth trimester of the 2008, the highest number from 1974. Whereas against the dollar, the Euro, pips gained 100 and reached the 1.2924.
For today it is expected Wholesale Price Index (WPI) German to 7:00 GMT, and the Retail Salts to 10:00 GMT. If the projections are fulfilled, the Euro esteem that will continue taking terrain.
