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Ongoing concerns about the sovereign debt crisis in Europe led to a decline in euro in Asian forex trading, the dollar also encountered difficulties, the minutes of the meeting of the Federal Reserve boosted expectations for further support measures. The currencies linked to commodities such as New Zealand dollar moved upward. The euro fell more generally, particularly against the currencies linked to commodities and the weak demand in the auction of bonds of Italy threatened to push back the country’s economy at the heart of the debt crisis in the region. The data in Europe showed that economic sentiment fell more than estimated in August while the controversy regarding the requirement of Finland guarantees from Greece in return for participation in the bailout continued to worry investors. The euro has negotiated around 1 , 4436, having reached to a low of 1.4383. The dollar came under pressure as the minutes of the Fed indicated that its executives discussed a series of unusual tools that could be used to help the economy.

Falling to 3.4 billion euros from 5.5 billion recorded in June the current account deficit of France in May compared with the deficit in goods trade shrank and investment outflows increased. In particular, the deficit in trade in the second largest economy in the eurozone fell to 5.8 billion euros from 7.5 billion while the surplus in services has nearly doubled, reaching 1.5 billion euros from 0.8 billion . The net outflow of direct investment rose to 6.2 billion euros from 2.8 billion in May. The French direct investment abroad amounted to 7.3 billion euros and of foreigners in France, at 1.1 billion euros.

The Bank of Japan is considering to revise downwards its forecast for economic growth in fiscal year 2011 as the business climate has deteriorated significantly after the earthquake and tsunami of March 11 as indicated by the last survey Tankan, transmits Kyodo News quoted people with knowledge of the matter. However, the results of the investigation posted earlier today, also show recovery of confidence in major companies in the coming months, the central bank expects the Japanese economy might be able to record low growth rates for financial year that ends next March, in contrast to the already entrenched view among analysts that the economy will shrink this year. The Policy Board of the Bank of Japan will announce its revised forecasts for growth and inflation after the two-day meeting on July 12. At the same time, according to what sources say, the Bank of Japan expected to downgrade its forecast for GDP growth at 0.1% to 0.4% from 0.6% in April estimates. For the fiscal year 2012, the central bank expected to maintain substantially the assessment in April for growth of 2.9%. As regards inflation, the Bank of Japan expected to deviate from its latest forecasts for growth of core consumer price index – which exclude fresh food, by 0.7% in both 2011 and 2012. The business confidence indicator in manufacturing fell to -9 in June from 6 March. Trade forex online and get involved on the market with the highest volatility. It is the first negative size in five quarters. But improvement is expected the index to 2 in September, as the investigation showed Tankan. The figures are calculated by subtracting the percentage of companies reporting worsening business conditions or deterioration expect the percentage of companies reporting or expecting better conditions. The government will announce separately its own forecast in July. Minister of Finance and Fiscal Policy, Kaoru Yosano has signaled that the GDP growth for fiscal 2011 will be close to zero, revising downward its estimates for December increased 1.5%.

Small losses are making the futures and stock indices on Wall Street and maintained a concern for the evolution of European debt crisis and while the meeting of EU finance ministers in Luxembourg does not appear to alleviate concerns about the risk of transmission of the Greek crisis and other Euro countries. Specifically, the futures of the Dow Jones Industrial lost 38 points, while the futures of the Standard & Poor’s decline 3.80 points.The technological Nasdaq futures lost 6.75 points. The markets are still aware of pressures amid growing concerns about the debt crisis in the eurozone.Greece continues to monopolize the international interest in the Citigroup analysts warn today that the country’s financial crisis could prove contagious and creates one of the biggest risks for global financial or forex markets. Markets “weigh” while the odds to secure the Greek government a vote of confidence to continue implementing the program and released the fifth installment. On Friday, Moody’s Investors Service warned while on possible downgrade the credit rating of Italy creating greater uncertainty about developments in the euro area.

French Finance Minister Christine Lagarde arrived Wednesday in Beijing to support in China, after her visit to India’s to support her candidacy for the post of Executive Director of the IMF before the head of the second economy in the world. The Lagarde just arrived in the Chinese capital, he met with Governor of Central Bank of China Zhou Siaotsouan and later will meet with Deputy Prime Minister Wang pee, Finance Minister Churen Joint Assembly and Foreign Minister Yang Tziesi, French diplomatic source said.

The French minister has the support of Germany, Britain and Italy, considered the favorite to inherit the compatriot Dominique Strauss-Kahn, who resigned after the indictment against him for sexual assault against a hotel maid in New York.The Lagarde said to count on the support of President Barack Obama according to a statement by French President Nicolas Sarkozy. The U.S. is waiting until June 10, the deadline for filing nominations for the position of head of the IMF to formally announce their position. It is expected that the EURUSD will maintain the same levels for quite some time as broadcasted by well known forex brokers.

In late May, the five large emerging economies group BRICS (Brazil, Russia, India, China and South Africa) complained about the will of Europe to maintain its role in the general direction of the IMF, but to have reached an agreement to support a common candidate. According to an unwritten law in force since 1946 this position holds that the European and World Bank President, American. The Chinese Foreign agency stressed that the choice of a new CEO should be an open, transparent and meritocratic basis of qualifications in order to better represent emerging markets and to better reflect changes in global economic structure. ”

On Tuesday in New Delhi where he was welcomed by Prime Minister Manmohan Singh, the Lagarde said that he had received assurances that the applications will be the “basis of qualifications of the candidate. The fact that I am French and Europeans are not advantage or disadvantage,” he said. The Lagarde has two strong opponents, the governor of the Central Bank of Mexico Agustin Carsten and Governor of Central Bank of Kazakhstan Grigory Marchenko.

Earnings least expects 150.7 million for the six months ending in July, the Italian fashion house Prada, according to an announcement on the stock exchange of Hong Kong. The Italian company, which is preparing for a public offering of 2 million. U.S. dollars in Hong Kong, plans to increase the number of stores to 80 by the end of January 2012. Most of them will open in the Asia-Pacific, where he sees “significant growth potential”, says the company in its communication to the Stock Exchange of Hong Kong.

The position of France regarding a possible restructuring of the Greek debt today reiterated the French finance minister, stressing that this is not in the table. The French officer and candidate for the leadership of the International Monetary Fund said while on tour, which seeks to ensure the widest possible support for the position of the body. Mrs. Lagarde plans to visit China, maybe next Sunday, while the intentions are the visits to Brazil and India. A day after the official announcement of candidacy, the Lagarde said he wants greater support not only the support of Europe. “Certainly I would prefer to have the support of vast majority and not to be the candidate that promotes Europe,” she said. She added also that if selected for the leadership of the IMF will try to prove that it is independent from the French government immediately upon election. “My goal is added to show independence from the beginning”. Then the French Minister hosted its priorities from the moment you take the reins of the IMF. “We must continue to improve the governance of the organization. It is an organization that has been adapted and will be adjusted throughout the world”, she said. Many forex brokers said that the supportive commends towards Greece will maintain the EURUSD rate close and above the 1.4100 level.

Unexpected decline recorded in March industrial production in Europe due to lower production of capital goods and machinery. The production in the eurozone fell by 0.2% compared with February, which had strengthened by 0.6%.

At an annual level of industrial production in the euro area has increased by 5.3%, while in February it had jumped by 7.7% compared with 2010. The industrial companies in Europe have given considerable impetus to the recovery of the region, as they increase their spending and hiring staff to meet increasing demand.

In Germany, which has contributed significantly to European economic growth, industrial production increased by 0.4% in March compared to the previous month, according to figures released today by Eurostat in France, however, production fell 0.9%, while decline was also registered in Ireland, Greece and Spain.

The eurozone companies rely primarily on foreign demand, as the austerity measures in many European countries have overcome the demand and consumer confidence

Fall 1% showed house prices in 20 major U.S. cities in January, according to the index S & P / Case-Shiller which released today by Standard & Poor’s. This is the sixth consecutive month of declining prices. Compared to last year recorded a 3.1% decline. Prices fell in 19 of the 20 cities included in the survey. Washington was the only city where prices rose in January.

The “increased vigilance” by the European Central Bank is still in force because of the risk of rising inflation, despite growing global economic uncertainty, according to today’s statements by members of the Governing Board of the ECB’s Ewald Nowotny told Reuters. “Increased vigilance is the message given and is still in force,” said Nowotny, who heads the Austrian central bank.

The Nowotny said it was too early to decide on the termination of the program bond market by the ECB, but there is no reason to continue if it is no longer necessary. Even said he sees the need for Portugal to support fund for the time being, according to Reuters. The fundamental characteristics of Spain differ significantly from those of Portugal and would be a mistake to believe that there will be an automatic transmission of the crisis between the two countries.

Meanwhile, the Nowotny praised the outcome of the summit Friday in Brussels, saying he hoped the new agreement will “bring greater market efficiency and transparency”.