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The Weakening Of Euro Might Make It Move towards Parity with the Dollar
As against the dollar, the Euro weakened down at the rate of 15 percent especially in the first half when it is expected that the deficits in the budget would perhaps force the government to cut the amount on spending.
According to the chief currency strategist at the TD Securities Inc. in Toronto, Shaun Osborne, the euro would perhaps depreciate at the rate of $1.13 in the third quarter. By the end of the year, the amount may reach $1.08 and in 2011, it may near a rate of $1. In the next two quarters however, it is expected that the euro would be lower.
The currency which is shared by 16 European nations rose to a rate of 0.5% and it reached an amount of $1.2596. On 7th June, it made a four year record low at a rate of $1.1877 and since then it has made a gain of 5.6%.
The ECB actually started to purchase the bonds of the government from the member nations since May. This is actually a part of the rescue package for the EU.
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By mmanish on Markets | Tuesday July 06, 2010 08:59 am
It is expected that the euro would further get weakened and this in turn might help it to move towards parity with the dollar. Expectations of such kinds are made because in order to support the economic recovery, more and more government bonds are being purchased by the European Central Bank.As against the dollar, the Euro weakened down at the rate of 15 percent especially in the first half when it is expected that the deficits in the budget would perhaps force the government to cut the amount on spending.
According to the chief currency strategist at the TD Securities Inc. in Toronto, Shaun Osborne, the euro would perhaps depreciate at the rate of $1.13 in the third quarter. By the end of the year, the amount may reach $1.08 and in 2011, it may near a rate of $1. In the next two quarters however, it is expected that the euro would be lower.
The currency which is shared by 16 European nations rose to a rate of 0.5% and it reached an amount of $1.2596. On 7th June, it made a four year record low at a rate of $1.1877 and since then it has made a gain of 5.6%.
The ECB actually started to purchase the bonds of the government from the member nations since May. This is actually a part of the rescue package for the EU.
ABOUT theOTCmarket.com:
TheOTCMarket.com (THEOTCM) is an investor-oriented resource centre offering relevant news and information vital to investors (individuals and firms) in the financial sector. It provides independent, unbiased and a comprehensive overview of any new development and trends in the investor and financial market. We also provide in-depth analysis, research, insights and similar resources online.
TheOTCmarket.com offers Stock Newsletter on various hot stocks of the day.
We also offer a news alert service on twitter by following our twits at http://twitter.com/theOTCmarket
We publish daily news in the form of our Market Snapshot and also provide daily Hot Stocks for its visitors. Additional attractions for investors and financial institutions are offered in the form of stock alerts, newsletters and other forms of subscribed information.
You can become leader in stock market by keeping track of the daily activity.
Disclaimer:
THEOTCM electronically disseminates information (the “Information”) on its websites, in newsletters, featured reports, spam compliant double-opt in email communications or otherwise pertaining to Featured Stocks’ (the “Issuer” or “Issuers” or “Featured Stock” or “Featured Stocks”), the securities of which are most frequently common stock shares quoted on the Over the Counter Bulletin Board (“OTCBB”) or Pink Sheets. The Information is based on publicly available information, such as quarterly (with unaudited financial statements) and annual reports (with audited financial statements) filed with the Securities and Exchange Commission (“SEC”), quarterly and annual unaudited financial reports and Information and Disclosure Statements filed with the Pink Sheets, the Issuer’s website and information obtained through search engines such as Yahoo Finance, Market Watch, PRnewswire, StockHouse, StockWatch, OTCmarket and Business Wire. We synthesize the Information from these informational sources for our Readers as a starting point for further inquiry into the Issuer and its securities.
THEOTCM is not a registered investment advisor or registered securities broker dealer and the Information should not be construed in any manner, shape or form as investment advice, investment recommendations or opinions or viewpoints regarding the Profiled Company or its securities or as a solicitation to offer, purchase or sell the Profiled Company’s securities. THEOTCM does not endorse, independently verify or assert the truthfulness, completeness, accuracy or reliability of the Information and conducts no due diligence whatsoever of the Profiled Companies. Because the Information is presented on an “as is” basis, your use of the Information is at your own risk. THEOTCM disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the Information is accurate or reliable or free of errors. The Reader hereby indemnifies THEOTCM from any liability for any claimed direct, indirect, incidental, punitive, or consequential damages pertaining to the disseminated Information.
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