The euro fell Friday to its lowest level for eight months and a half. The single currency goes on its third session decline from under 1.36 dollars, after passing down the threshold of 1.38 dollars the previous day (Thursday evening about 22 hours). It reached 1.3648 dollars around 9 am 30. It's a new level for the single currency since May 9
Since the beginning of the year, the euro lost 2.5%.
This drop is explained in particular by the concern of traders due to budgetary problems of many countries in the euro area. Many expect a strong intervention of Europe and even appealed to the International Monetary Fund (IMF) to help Greece to get out of a budget crisis without precedent.
Another concern is about the euro on the currency market, the case of Spain, which has poorly digested crisis including an unemployment rate of nearly 20%.Besides Dominique Strauss-Kahn, IMF head, spoke Thursday on RTL crisis "very strong in Spain and that the country had" an effort "to reduce public deficits. The Spanish public debt has soared just over 60% of GDP in 2010 while in 2007 it accounted for only 36.2% of GDP.
Tuesday, Paul Krugman, Nobel Prize in Economics in 2008, believed that Spain was the main weakness in the euro area. To this the Spanish Minister of Economic Affairs, Elena Salgado, has responded Thursday by saying on the radio station La Cope: "The euro is a very strong and we continue to strengthen the currency.I see absolutely no risk for the euro area, "adding," there may be a lack of understanding about what the euro means for our economy. "
Another country in the euro area is also starting to worry, Portugal, again because of deteriorating public finances of the country. Besides the titles of Portuguese banks fell by 5 to 6% Thursday on the Lisbon Stock Exchange.
Another destabilizing factor for the euro, the figures disappointing U.S. employment have sealed the European currency. The unemployment rate has been declining at 9.7% in the United States, against 10% in December. But most companies have dismissed that hiring, the net destruction of reaching the 20,000 jobs over the month. A figure who has largely disappointed observers. The analysts, in fact, had forecast between 5,000 and 15,000 new jobs.
Toyota has done it again, but this time no further announcement has come offset concerns about her Prius. Not even net earnings for the third quarter … Toyota announced just before closing. In Tokyo, the Nikkei closed at a decline of 0.46%. The Nikkei lost 48.35 points to 10,355.98 and the broader TOPIX, yielded 4.59 points (-0.5%) to 911.09 points.
Crude oil prices continued their decline Thursday in electronic trading in Asia, amid declining grants and rising oil stocks in the United States, according to analysts. In morning trading, a barrel of light sweet crude for March delivery retreated 17 cents to 76.81 dollars, while that of Brent North Sea at the same maturity, lost 30 cents to 75.62 dollars .The crude inventories rose in the U.S. for the third straight week, by 2.3 million barrels – indicating a falling demand – while the market expected them to remain unchanged payday loan lenders .
As Toyota (-3.53%) and its subsidiaries are also affected by the distrust: the supplier Denso has dropped 6.26% and assembler Toyota Auto Body 1.08%. The automaker announced it would recall over 180,000 vehicles in Great Britain to redress the problem of accelerator that has been forced to go along with millions of cars worldwide, Thursday reported several British newspapers , mentioning the mark.Immediately after closing, Toyota has nonetheless announced a net profit of 153 billion yen (1.16 billion) against a loss of 164.7 billion yen (1.25 billion euros) per annum passed over the same period the group has raised its forecast Better Canada under its fiscal year.
After the acceleration, braking. Toyota Motor has already recalled 2.3 million vehicles suspected of being equipped with a faulty accelerator pedal. The group had calmed the controversy by presenting apologies. But Wednesday, she reflects, about this time of the braking system of the hybrid model, the Pruis.
Toyota says its dealers in Japan and North America have received complaints by the dozen, deploring the failure of the braking system of the new Prius on bumpy road or icy.
Within the group, these discontents are known since December, said a spokeswoman in Tokyo. Toyota provides to address the issue."The company will decide what action to take after realizing what has caused this problem."
The Japanese Ministry of Transport has himself received letters about the problem of braking payday loan . There are fourteen complaints, including one following an accident in July and thirteen others between December and January.
This third-generation Prius is the top seller in Japan and has enjoyed great success in many other global markets. However, customers are beginning to shun U.S. concessions after the case of defective accelerator pedals. In January, the market share of Toyota in the United States and has eroded from 18% in December to 14%.And these disappointed consumers are turning to domestic manufacturers: GM and Ford are the two main beneficiaries of this disaffection for Toyota.
"Toyota wants to get out as quickly as crisis accelerators
Contracts on U.S. stock indices suggest opening up Wall Street after three sessions of consecutive decline markets suffered the effect of uncertainty on profits in the banking sector related to Barack Obama's desire to limit risk taking . On Monday, the future of Dow Jones rose 0.63% to 10,214 points, future increases in the Standard & Poor's and Nasdaq are more timid: 0.08% for each.
The markets are relieved by the prospect of an upcoming confirmation by the U.S. Senate, the appointment of Ben Bernanke for a second term as president of the Federal Reserve.
On the macroeconomic front, if the meeting Monday is looking pretty quiet with only a statistical program, home sales in December – are expected to decline by 10% after rising 7.4% in November — week, it will be more responsible.In addition to meeting the Monetary Policy Council of the Fed, which must render its decision on rates Wednesday, investors will pay attention to economic data front, starting with the first estimate of U.S. GDP for the fourth quarter 2009, expected on Friday. A follow clues consumer confidence (Conference Board that Tuesday and the University of Michigan Friday) and sales of new homes in December, Wednesday.
As for currencies, the dollar lost ground against the euro, thus yielding 0.4% to 1.419 dollar against the euro, but gained 0.4% against the yen to 90.2 yen Business Card Holders