Crude oil prices declined though the German and Portuguese bond auctions showed an spike in demand, spurring demand for the euro-area common currency, accordingly, the euro rose against US dollar, while stocks in Europe went pared early gains.
Euro advanced sharply against the U.S dollar after the International Monetary Fund said that it could expand its capacity to 1 trillion dollars from 385 billion dollar in order to support the global economy and prevent the debt crisis from spreading outside the euro-area region.
Now, eyes will be spotted the performance of the European economy, especially after the ECB lent the European banks huge amount of money, and if that money will help the euro zone to continue recovery process amid big challenges.
Originally posted here
