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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Italian bond auction drives euro higher but concerns spread for lingering debt crisis

Apr 12, 2012 08:43 AM

Borrowing costs increasing in Italy after the nation's treasury conducted a bond auction contributed to the shared currency of the European Union rising to its highest value in seven days on Thursday against the U.S. dollar, Reuters reports.

But worries are still spreading about the sovereign debt scourge's talons sinking into other nations. The debt crisis has been attacking banks, markets and public finance systems in the euro zone for more than two years. Tranches of bailout aid have been awarded to Ireland, Portugal and, on two occasions, Greece.

"The response to the Italian bond auction and the performance of Spanish banks is an indication that problems for the euro are piling up," head of Absolute Returns and Currency Stuart Frost with RWC Capital told Reuters.

Spanish Prime Minister Mariano Rajoy, in response to being on the receiving end of blame by Italian leaders regarding the increase in borrowing costs since he scrapped the 2012 budget deficit target, suggested his European peers exercise more care and caution when placing blame.

The Italian bond auction saw the treasury sell the equivalent of more than $6.57 billion-worth of debt, Dow Jones Newswires reports.

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