13th January 2012
The latest Italian debt sale has recorded worse than expected results and this has served to pull down the euro in forex trading this afternoon (January 13th).
According to the Wall Street Journal, despite the fact Italy was able to sell €4.75 billion (£3.94 billion) in government bonds - significantly more than expected - the yields on these sales were dramatically lower than had been predicted.
This means relatively soft levels of demand are being seen for eurozone debts once more.
"Overall, it underscores that while the auctions in the euro zone have been battle victories, the war is a long way from being resolved (either way)," Marc Ostwald, a strategist at Momentum Securities, told the Wall Street Journal.
Yesterday, a successful auction of Spanish debts was carried out and this had the impact of pushing up gold prices in commodity trading to a one-month high at $1,657.60, before the precious metal fell back to $1,656.89.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.