The euro fell for the third consecutive day before the auction of bonds between the two countries

On Wednesday (November 16), the euro/dollar Asian market fell sharply again, hitting a fresh low of 1.3431 in nearly seven weeks.

Following the Italian auction of bonds, Spain and France are preparing to auction bonds on Thursday (November 17), suggesting that the euro zone debt crisis is spreading and the euro/dollar has fallen for the third consecutive trading day.

Following the rise in the yields of French bonds in France, Belgium, Spain and Austria, the euro/yen fell to a new low of 103.40 in intraday trading on Wednesday. The US dollar rose against 14 out of 16 currencies as investors sought safer assets. The EUR/CHF had a correction on the occasion of the SNB's announcement of the intervention of the Swiss franc on the 50th day.

Greg Gibbs, an exchange rate analyst at the Royal Bank of Scotland Group in Sydney, said that French and Spanish Treasury yields are rising and it can be felt that banks, investors and companies are Beginning to prepare for the worst results, the euro will remain under pressure.

Spain plans to auction 4 billion 2022 bonds tomorrow (November 17), while France intends to auction 2013-2016 bonds. Yesterday (November 15) With the increase in financing costs, the funds raised by the Spanish and Belgian government bond auctions were lower than the maximum target.

Spain’s 10-year Treasury bond rose 23 basis points to 6.34% yesterday (November 15), and its spread with Germany’s 10-year Treasury note widened to 455 basis points, while similar indicators in France continued to expand to 190 basis points.

In the past six months, the euro/dollar has fallen by 1.5%, the yen has risen by 7.1%, and the dollar index has risen by 3.3%.

Geoffrey Yu, an exchange rate analyst at UBS AG in London, said that we continue to doubt whether the euro can maintain its current level. We can hardly deny that the euro zone is still in a difficult position and that the market is still looking for a more comprehensive solution.

Hans Hess, President of the Swiss Machinery Manufacturers Association (Swissmem), said yesterday that he may intervene again after the intervention of the SNB on September 6th. Affected by this, Swiss francs fell sharply.

Yesterday (November 15) EUR/CHF rose 0.1% to 1.2405, USD/CHF rose 0.4% to 0.9183.

Italian Prime Minister Mario Monti Monti will meet with President Giorgio Napolitano today and tell the President that he negotiated with the political parties to form a new government. The market expects that Monti will announce the main technology by then. Bureaucratic cabinet. He said that he will unite major political parties, alliances, and every Italian people, and firmly believes that Italy will survive this crisis.

The new Greek Prime Minister Lucas Papademos will face a vote of confidence today (November 16) and the legislators will cast their vote and authorize him to implement a three-month budgetary measure. To ensure that the 130 billion euros of aid raised by the EU summit on October 26 can be supported.

Ship Repair

Zhoushan Huafeng Shipyard was founded in March 2017, more than 2700 employees(including cooperating companies). The registered capital is RMB100,000,000. The company has three bases , Base No. 1 covers an area of 437,464 square meters and a total coastline of 1,282 meters. There are two grave docks and 1,054m Length berth. Base No. 2 has a grave dock , 650m berth and 600m berth each. Base No. 3 is located in Daishan County, Daoxi Economic Development Zone, There are two grave docks and 900m Length berth.
The company has perfect equipment and facilities, excellent talent team, complete quality control system, to provide customers with comprehensive Ship Repair, Shipbuilding services.

Professional Ship Repair,Shipbuilding Industry,Ship and Boat Building and Repair

Zhoushan Huafeng Ship Building and Repairing Co., Ltd ,