After Spanish,German,Italy and Austrian banks downgrade on Thursday moody's cut rating for 15 major banks including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking.
Market reacted seriously on Wednesday's Bernanke statement on US growth outlook as well amid china's the latest Flash PMI for China fell to 48.1 in June from 48.4 in May.
The Purchase Managers Index is always bearish when below 50.
Meanwhile ECB bond buying got support from IMF also as couple of days back some EU leaders and officials requested for debt ridden country bond buying from EFSF fund which will help to reduce
yield .
Today's important economic data,
Market reacted seriously on Wednesday's Bernanke statement on US growth outlook as well amid china's the latest Flash PMI for China fell to 48.1 in June from 48.4 in May.
The Purchase Managers Index is always bearish when below 50.
Meanwhile ECB bond buying got support from IMF also as couple of days back some EU leaders and officials requested for debt ridden country bond buying from EFSF fund which will help to reduce
yield .
Today's important economic data,
- GERMAN IFO
- BANK OF CANADA cpi
- US API report
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