Forex Zone (Forex Zone)
Czech markets  |  June 06, 2012 11:03:08

There was also the German banks

Moody's downgraded credit rating yesterday, six German banks. This is the Commerzbank, Dresdner Bank AG, Dresdner Finance BV and their foreign affiliates, mostly American. As reasons for downgrading agency said an increased risk of shocks caused by other European debt crisis and the limited capacity of banks to absorb losses. Rating outlook is stable German banks.

It is also importantstatement yesterday the Spanish finance minister, who said that under current market rates to Spain loses access to loans and Europe was to help him revive his bank. Blow to Spain, but yesterday's decision was the German government of the CDU, the management refused to directly recapitalize Spanish banks from the euro zone rescue fund. Instead, it called on Spain to quickly decide whether to request money from the EFSF under normal rules, among which is also a proper rescue plan negotiated with other European countries.

As regards developments in the monitored pair EUR / USDAnd after the morning selloff, the market stabilized during the American session and moved in a relatively narrow range between 1.2470 and 1.2426. Currently the trades today, high near the 1.2520 price. Above this price, we feel the first resistance around 1.2575 and 1.2600. If the ECB today surprised markets with something, so we tend rather to test the direction of prices below. We see a great chance to test today's Asian session low at 1.2441 and also to test yesterday's low at 1.2410 and 1.2386 at Monday's low.

Today is certainly herald announcing interest rates in the euro area, which will be published in 13:45. At 14:30 will be the ECB press conference, which will all watch with great tension.In these times when the existing tension in the markets can become virtually anything, and will therefore be best to stay completely out of the market.

Read also:

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Last news from the section Czech markets:

Pá 11:48  Avast koupí slovenskou vývojářskou firmu INLOOPX Patria (Patria Finance)
Pá   9:58  PKN blízko vytěsnění minorit Unipetrol Research (Česká spořitelna)

Read also:

November 20, 2017Německé banky. Investiční past, nebo příležitost? Patria (Patria Finance)
September 01, 2016Dojde ke spojení Commerzbank a Deutsche Bank? Jiřina Kavková (
January 27, 2016Ferratum plánuje získání německé Firmen-Credit Bank Vladimír Urbánek (

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