Eskimo Bliss

ECB member Axel Weber claimed that there is no need for the ECB to continue purchasing private assets to promote development credit. Yesterday, the euro recorded maximum 7 weeks against the dollar, reaching the 1.3700 area. On the other hand, IMF said members of the EU should take action together to promote economic growth, and also that they should implement integrated financial measures for the region. These comments by the IMF took place after the publication of data from the French and Italian industrial production. Both indicators fell short of estimates expected, and that is why it was interpreted as the European region was adversely affected during the first quarter more strongly than previously estimated. Also remember that the ECB cut interest rates to 1% taking them last week, and President of the monetary institution, Jean Claude Trichet, said that they could be reduced in the future again. Trichet also said the ECB will buy 60 billion euros ($ 80 billion) in bonds, thus injecting money into the economy. For today, the most important indicator to be published in the Euro Zone Industrial Production is, an indicator will be released at 9:00 GMT.

It that the figures will improve over previous results. Operators should monitor the results, as if surprised, the euro could continue their upward trend, at least in the short term. JPY – The yen rose strongly yesterday, the yen, the force managed to advance against most currencies, as the drop in the stock market driven by profit taking, reduced appetite for risk.