The market enjoyed some gains on Thursday after the bond auctions went smoothly and successfully in both Spain and Italy while the ECB president Draghi said tentative signs of stability are seen.
On Thursday Spain sold double its target raising 10 billion euros as costs fell. While Italy also saw borrowing costs fall sharply as it raised its targeted 12 billion euros.
Furthermore, the ECB left interest rates steady at 1.00%, while Draghi expects growth to recover gradually, where domestic demand and growth in general may be hurt by bond and financial markets tensions.
On the American side, unlike the market forecasts Thursday’s retail sales for December along came in worse than projected and gloomier than the prior reading regardless of the holiday shopping season as cheaper fuel prices and discounts held down actually the value of goods sold, while that jobless claims rose up despondently.
Thereby European shares were mix with DAX inclining by 0.48% while CAC closed Thursday’s session unchanged, as demand for higher yielding assets is increasing; the euro jumped trading at 1.2818, while the pound inclined slightly trading at 1.5336.
The USD lost yesterday’s gain trading around the 80.81 level, while declined to trade at 76.70. The AUD is unchanged trading around the 1.0308, where gold gained trading around $1654.55, and oil jumped again trading at $102.22.
Originally posted here
