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Unchanged remained at an annual rate the inflation in the Eurozone in August but remained above the target of the European Central Bank. According to preliminary data of Eurostat , the consumer price index remained at 2.5% twelve months ending in August. In July the rate fell to 2.5%, having been strengthened to 2.7% in June. Please note that the rate was within the estimates of economists, according to a poll of Dow Jones Newswires . The ECB is the formation of lower inflation than 2%. Although the magnitude of August is above this level, economists argue that the bank can not proceed with further increases in the coming months amid concerns about the development of the area. Businesses and consumers in the eurozone was less optimistic about their prospects in August than any other month in the last 15, according to European Commission figures. The ECB has raised its key interest rate twice since April, to 1.5% in order to keep inflation stable. At the same time investors are divided on currencies or gold trading as there are not clear signs on the path they should follow.

The amount of 6.5 billion now raised by the Italian Treasury auction Treasury bills 12 months, as announced by the Bank of Italy. The cost of funding in Italy has decreased significantly in the first attempt in the country to borrow money from markets, following the intervention of the ECB market omologovn on Monday. The intervention of the ECB led the Italian bond yields to a significant drop this week, the Treasury secretary benefited in turn, despite the fact that the ECB focuses on bond markets rather than Treasury, according to Barclays Capital. “The presence of the ECB in bond markets had clear impact in today’s auction, the yield of 12-month Treasury bills to fall significantly over the immediately preceding auction,” says Jan von Gerich, analyst Nordea, the Dow Jones Newswires.

The use of marginal funding from the European Central Bank rose Thursday, as shown by the figures released today by the ECB. The banks borrowed 1.203 billion euros from the facility – which charge higher interest rates 2 , 0% – from 28 million Wednesday, as shown by the figures. When forex and banking markets function normally, banks use the facility at a rate of a few hundred million. Borrowing from the facility soared at double digit levels in billion last February as a result of efforts by the Irish government to erode the banks nationalized Anglo Irish Bank Corp. and Irish Nationwide Building Society, as stated, then a person with knowledge of the case to Dow Jones Newswires. The banks also place more funds on the deposit facility of the ECB interest rate 0.5% Thursday, depositing 34.561 billion from 18.793 billion euro Wednesday.

German banks would like to participate in solving the debt problems of Greece, but want stronger incentives, according to General Manager of the Federal Association of Banks, Michael Kemmer. The banks will seek a viable solution for Greece, but “additional incentives” such as “better assessments covering guarantees” would make a contribution more attractive, said Mr. Kemmer. As decided, the creditors should participate in the solution on a voluntary basis, so that no dangerous chain reactions. The participation of German Banks ( and other European banks) on the Greek debt solution seems the most viable project otherwise the common european currency will experience extreme pressures on the forex market. That is why many traders have switched to forex managed accounts where experienced forex brokers are updated of all the relevant news.

The negative sentiment continues “torturing” the European markets which recorded losses of up to over 1% in trading Wednesday. Statements Bernanke for the U.S. economy and uncertainty about the debt crisis burden the climate, and the unexpected fall in industrial production gives a more … hit. More specifically, in a speech to the American Banking Association in Atlanta, Bernanke acknowledged that the U.S. economy grows more slowly than expected from the Fed. Meanwhile, the German Finance Minister said yesterday that Europe faces “a real risk for the first disorganized state bankruptcy within the euro area” if Greece had not received further support.

The long day, made an unexpected drop in industrial production in Germany in April. Specifically, the output of the country fell 0.6% on a monthly basis and compared with the corresponding months of 2010 increased 9.6%. Economists polled by Dow Jones Newswires had expected to keep production at the same level as in March while once more the EURUSD in the forex market exceeded the 1.4500. Moreover, growth of the eurozone in the first quarter was fueled by the significant rise in business investment, according to official figures today saw the light of day.
The second estimate of the official statistical agency Eurostat, the gross domestic product showed that the economy of the 17 States grew 0.8% in the first quarter versus the fourth quarter of 2010 and 2.5% on an annual basis. This is the fastest annual growth rate over three and a half years.

It is unrealistic to believe that Greece will be able to repay the debt promptly declares Austrian expert was sent to Greece by the European Central Bank to study the Greek tax system, said at today’s publication of the CNBC. This is the Friedrich Schneider, professor of economics at Johannes Kepler University in Linz, who was asked by an Austrian radio station about whether Greece is able to fulfill the conditions to receive the next installment of the loan if it is not unrealistic to believe that it can to repay the debt. “You are absolutely right on this issue. It is unrealistic to believe that Greece will be able to repay these debts. Greece’s debt should be reduced,” said the Schneider, an expert on the economy and one of the three ECB staff in Greece, as the publication of CNBC. He added that “the average Greek had to deal with losses of 30% to 40% in income. This course reinforces the black labor and the informal economy as it is the only place where you can win more than just money.” “Without debt reduction, without a credible financing plan will not work anything in Greece”, he added. More and more experts declare that the greek situation will push the Euro lower against other major currencies in the forex trading market.

Increase in exports recorded in Switzerland in April and presented a strong demand for watches, mechanical and electrical equipment from Asia. Exports totaled 16.03 billion francs ($ 18.04 billion), up 11.6% in real terms annually. Imports rose 6.2% to 14.51 billion francs. The increase in exports pushed the trade surplus to 1.52 billion francs. Our Forex Broker reports that the rate of EURCHF is at 1.2341 while the USDCHF is at 0.8704.

Finland will support the rescue plan of Portugal provided the country to agree to the terms of the package will include sales of state assets, as reported in Bloomberg.

Portugal should also start talks with investors from the private sector to ensure that the funds will remain in place until the repayment of the rescue package, said the country’s Finance Minister Jyrki Katainen told reporters in Helsinki late Wednesday.

Finland has also wants assurances that countries pledging funds will be repaid before the private investors, he added.

“We have reached agreement,” said Katainen, who heads the largest party in parliament after elections last month. The Katainen made these statements after the talks with the Social Democrats, the second largest party.

“The crisis is not over and Finland may be the country that would undermine the fragile situation, leaving open all options or implying that they will not participate in the mechanisms,” said Katainen.

New lawsuit filed against Apple by Nokia in the International Trade Commission USA (ITC), accusing the U.S. company for infringement of patents to all products. Last Friday, Apple won a round in the dispute with Nokia, as the ITC ruled that the U.S. company had not infringed any of the five patents, Nokia. Today, the Finnish mobile phone maker filed a new lawsuit, by reason of violating seven patents of others. Noted that the legal dispute between the two groups is also evolving technology in the courts of the United States, Britain, Germany and the Netherlands.

The reduction of U.S. bonds held by progressing OPEC and rising crude prices pushing the dollar. Specifically, the bonds held by the countries of the Organization and the banks in Britain as representatives of these countries fell 9% in the second half of 2010 to 654.6 billion dollars, which is the first decline for this period since 2006 when recording began praying the U.S. Treasury.According to Barclays, the reduction is negative for the dollar and only the worsening political turmoil could reverse the resulting return on secure investments in U.S. securities. The attractiveness of the dollar has fallen as the Federal Reserve keeps interest rate of close to zero while printing money to buy bonds and 600 billion deficit exceeds 1 trillion USD. It should be noted that the participation of the currency in global foreign exchange reserves fell for the third quarter of 2010 to 61.3% from a high of 72.7% in 2001.