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The Euro at lowest level in over four years

The euro has pushed the bar of $ 1.21 Friday shortly before 13:30, then the 1.2 dollar after the closure of European markets. 21heures rating it to 1.1976, the European currency had not been at these levels since late March 2006, more than four years. A floor that makes investors fears Wall Street unscrews, w ith a Dow Jones loose around 3%.

Investors are fleeing risky currency – which the euro is due to debt problems of several countries in Europe – in favor of safer currencies such as dollars and Swiss francs, while U.S. employment figures , Still selecting highly expected to referee emerged sharply higher, but less good, however, that those expected by analysts.

Including the 431,000 jobs created in May in the United States, on the first four months of the year, the U.S. economy created 200,000 jobs.But in the vast majority of them, these new posts are made through the timely hiring of staff for the census. Excluding this one-time occurrence, the economy created only 20,000 jobs.

These figures "are a blow to the enthusiasm on the global economic recovery," said Joshua Raymond, an analyst at City Index.This means that companies "are not hiring more sparingly and do not yet have enough confidence in the future to engage in massive recruitment," says Aurel BCG.

Fillon drives the point

Just for fun, Francois Fillon has ruled that the continuing fall of the single currency was a "good news", able to boost exports from the eurozone.

The term "parity" – meaning a dollar / euro – used during the press conference as prime minister by Friday precipitated a collapse of the euro against the dollar, forcing Matignon rectify the rooms to calm market.

"When politicians they understand that reviews loans for their candor and local audiences have destabilizing effects on financial markets?" Was upset Michael Hewson, an analyst at CMC Markets.

The comments "do not make any gift to the euro, according to the analyst. "They certainly do not help not to stabilize the single currency (and otherwise) to undermine the credibility of the finest political will to support the euro," he said.

Europe degraded by HSBC

Side debt in Europe, the series continues. On Friday, HSBC has downgraded its recommendation on Europe, excluding the United Kingdom, "neutral" to "underweighted" because "there are still too many uncertainties about the health of banks on the future of the euro on sovereign debt, and growth to take risks in this area now.

Hungary worried

After Greece, Spain and Portugal, the contagion of the disease spreading further public finances in the euro area, Hungary.

The government spokesman who said that about a politician reminiscent of the small countries a chance to avoid a crisis similar to that of Greece were not exaggerated.

Following comments from the spokesman for the government, the forint fell to a lower than a year against the euro traded at 285.75 forint per euro, before slightly rising up around 288 forints .

Hungary is on a drip of 20 billion euros made available by the International Monetary Fund (IMF), the European Union (EU) and European Central Bank (ECB) since the fall of 2008.

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