Dow Jones Industrial receives every chance to increase after the Minister of Finance. Dow Jones Industrial concluded the week with an excellent result. The DJIA will start trading at around 10,424.62 points, gaining +102.32 (0.99%). Finance Minister Timothy Geithner said that the U.S. economy is gradually recovering.
Greek Finance Minister George Papaconstantinou said that the country in the first half of this year has reduced the budget deficit by 42%. He expressed hope that Greece will again be able to borrow in financial markets in 2011. This means that the country exceeds the indicators established by the International Monetary Fund and the European Union in terms of 110 billion euro emergency loan this year.
European stocks fell amid concern over the economic outlook. Trading volume was quite low due to the fact that the U.S. now trades do not take place because of the holiday on the occasion of Independence Day. Pan-European Stoxx Europe 600 index fell 0.2% to 236.88 points, the British FTSE 100 – on 0,3% to 4,823.53 points, Germany’s DAX – on 0,3% to 5,816.20 points, the French CAC-40 – by 0,5% to 3,332.46 points.
Forecast for oil prices is not always justified … The price of oil in the next three years will fall to 60 dollars per barrel. This forecast was voiced by Deputy Prime Minister, Russian Finance Minister Alexei Kudrin at the conference Renaissance Capital in Moscow. “We will be back in the next 3 years to have a reduction to 60 dollars, and I am sure that is possible and more. This is my prediction based on available intelligence “- he said.
Dow Jones Industrial began trading on the U.S. stock market in the green zone. The level of support for the Dow Jones Industrial grows from the side. Dow index was 10,462.58 points and rose +20.17 (0.19%) at one time. Analysts were convinced that the Dow index fell in early trading due to bad data from the UK: the British Treasury believes that the growth of the British economy in 2010-2011. will be slower than predicted Labour government, who resigned in May.
BNP Paribas expects the euro / dollar at par in 2011. According to analysts, BNP Paribas, in 2011 the euro / dollar falls below parity, and will reach 0.97 by mid-year. In the short term, the bank expects rollback couples from current levels up to 1.2525. Currently, traders note the activity of German investors, who have shown interest in buying the single currency. A pair traded in the 1.2380, recovering from lows at 1.2380. Ofer noted in 1.2416/20. For the British pound have all the fun begins. I went to the countdown in anticipation of the publication of emergency budget planned for next Tuesday.
Former Finance Minister Viktor Pynzenyk considers that Ukraine could follow the path of Greece because of high levels of public debt and budget deficit. “The world is emerging from crisis. That dash that existed have been overcome. The key is the banking sector. As for Ukraine, we are now further than a year ago. 16% of GDP – the budget deficit, the debt of Ukraine – 36%. Therefore, because public debt, we can not avoid the Greek decision. Society needs an honest dialogue “, – said V. Pinzenyk.
Dow Jones Industrial Average is at 10,254.53 points mark. Part of the acquired Dow Jones today points irretrievably gone. At the time the growth of Dow index is +43.46 points, or 0.43% per day. Britain announced the dire news about an hour ago: The British Office of the Fiscal Responsibility has published the first report on the development of the economy.
Economic problems in Europe have begun to threaten not only the poor countries, but also strong. Most read newspaper of the Federal Republic – Bild am Sonntag quoted Angela Merkel: “Most people know that we save in order to reduce our debts” – said the chancellor, while expressing hope that our compatriots will understand the Government announced unprecedented measures of austerity. And although her hopes, as shown by the early polls have under him the grounds last Saturday, nevertheless, showed that in fact, not all Germans are ready to seriously save for yourself.
The exchange rate euro and the euro becomes a major issue for European officials. Integration of former enemies and the establishment of the single currency has become the biggest political achievement of Europe. Today, the ties that bind members of the European Union, are the most serious test for all of its existence. While there is no reason to believe that the euro is on the verge of extinction. But without good governance can not halt the process, depriving the common currency of political support.