Declined for the first time in 16 months recorded in the industrial production of Ireland in June, marking the end of the recent period of favorable conditions in the area, according to research today saw the light of day. The Irish Index NCB Stockbrokers Republic showed that new orders fell in June for the first time in 9 months. Specifically, the index in June stood at 49.8 points from 51.8 points in May and 56 units in April mainly due to ” fragile consumer confidence, “according to a statement of NCB Stockbrokers. Please note that index over 50 indicates expansion in manufacturing. In addition, the survey showed that domestic demand fell in June, while companies from abroad increased, although the slower in the last 18 months. As new orders fell, employment recorded a drop for second straight month. The survey also showed that manufacturers pass on higher costs of raw materials to consumers. Ireland was the second country which asked help from IMF and EU due to collapse of the Irish banks. The Euro was trading that time at 1.3800 (against the USD) while now it is trading well above the 1.4500 while the forex brokers say that if the next support point break then there is room for a rally up to 1.4700.
Capitalize on a market that never sleeps, learn forex with a forex demo account and trade from any location with your PDA, your laptop or your mobile phone.
European markets follow different directions
The European markets follow different direction in trading Tuesday after yesterday’s rally, while the London market “erupts” with gains of 2.5% since yesterday remained closed for holidays. At the core banks and discussions about Greek debt. The news for the banking mega-deal in Greece yesterday boosted forex brokers and investors interest as it marks a progress in strengthening the financial sector in the country, says Rabobank. “The question of a possible Greek bankruptcy still hangs over the financial industry and economy so such a development is welcome,” he adds. Significantly less optimistic were consumers and businesses in the Eurozone in August, as fears of debt crisis kept and the growth outlook remains weak. According to the monthly survey of the European Commission’s economic sentiment indicator fell to 98.3 points from the 103 units in July. This figure is the lowest since March last year and was below economists’ expectations for 100.5 points, according to a poll of Dow Jones Newswires.
On the dashboard, the estimator of the state of the stock markets of member countries of the Eurozone, the Euro Stoxx 50 record gains 0.57%. In London, the FTSE100 notes ‘leap’ 2.35%, German DAX declining at a rate of 0, 53%, while in Paris the CAC-40 moved to -0.27%. Gains 0.17% notes IBEX in Spain, at a rate of 0.77% decline in the Italian MIB, while in Portugal the PSI record fall 0.37 %. The Swiss SMI strengthened 0.44%. Negative signs have indices in Russia, the RTS to -0.80% and -0.04% in Micex. In Turkey, the market will remain closed until Thursday. In Great Britain, at the highest level in more than one year was the number of mortgage approvals in Britain, as current data showed the Bank of England. The BOE announced that in July approved 49,239 home loans, compared with 48,500 in June. This is the highest reading since May 2010. Net mortgage lending, which takes into account repayments, rose by 700 million pounds in July, rising 0.1% monthly and 0.8% on an annual basis