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Euro Rebounds against U.S. Dollar in Cautious Trading
FXEmpire | September 13 2011 12:07 EDT
By FX Empire.com
Cautious trading dominated markets on Tuesday as the focused remained on the European debt crisis, where Greece seems to be on course to default on its debt, however, German Chancellor Angela Merkel signaled Greece wont undergo an uncontrollable insolvency, while a report from Italy rejected rumors that China will be purchasing Italian bonds.
Meanwhile, the United States released the import price index for the month of August, where import prices fell in August by 0.4% following the prior rise of 0.3% but above expectations, while yearly import prices also rose above expectations in August.
Stocks in the United States were mixed by opening on Tuesday, where the Dow Jones Industrial Average was down by nearly 0.10% to trade around 11,050, while the S&P 500 index was up by nearly 0.25% to trade around 1165. European stock indexes were higher before closing on Tuesday, where FTSE 100 was up by 0.85% to trade at 5173 and the DAX was up by nearly 2.50% to trade around 5200.
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