03, April 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Russia will not support Cyprus. Russia is not going to support the business owners and residents who may lose their money invested in two of the largest banks in the country.

Cyprus may affect the loss of 60% from the accounts of the Bank and the Bank of Cyprus in Nicosia, which is more than 100,000 euro (insured threshold).

Last month, Nicos Anastasiades, President of Cyprus, agreed to conditions set by EU to get 10 billion euro rescue package. These conditions include the closing and banks.

Indicators of business activity in March, which were published in the U.S., are worse than expected, still this news did not cause the panic in the market. Construction spending rose 1.2% against the expected 1.1%.

There were also negative information from Europe and the United States that Spain wants to review the dynamics of GDP forecast for 2013 from -0.5% to -1.0% and the news that a U.S. court declared bankrupt 300000th Stockton, staff California.

Dow Jones stock index fell by 0.04%, while the euro rose by 32 points.