Posted by Jawaid Hasan on Nov 12, 2012 in News, Top Stories
New York, November 12 (FinanceEnquiry.com) ? When ruling coalition of Greece secured sufficient votes in parliament yesterday to agree the budget law of approaching year, the euro held on top of a two-month low in Asian trading on November 12, however, the coming meeting of euro zone finance ministers afterward in the session was considered to restrict its latent for gains.
Moreover, with a contented majority of 300 seats of parliament, the budget was agreed by Deputies associated to three-party government of Greece. 79.48 yen was bought by the dollar, being down to some extent from late stages of North America on November 9, when it skidded as low as 79.07 yen, its feeblest after October 18.
If to believe on the data from the Commodity Futures Trading Commission released on November 9, then for the first time after early September, the US dollar was supported by currency speculators in the most recent week. Although being nicely shy of November 7?s one and a half month high of $1.0480, the Australian dollar was at 1.0413 up almost by 0.3 percent.
In addition, the export expansion jumped to a better than projected high of five-month and due to this, demonstrating its trade surplus distended to its largest in 45 months in the month of October, weekend trade data from China, an essential trading partner, strengthened the Aussie.
Jawaid has a ?bachelors degree in economy? and ?masters in finance.? He has worked independently as a finance advisor and manages his own portfolios. He has worked for various investment firms as head portfolio manager and has managed portfolios with a remarkable degree of success. Email: Jawaid.Hasan@financeenquiry.com Tel: (732) 452 3610
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Source: http://www.financeenquiry.com/prior-to-euro-zone-finance-ministers-meeting-euro-stables_32786.html
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