Daily Market Review 21 of May

In Europe the Athens outside the euro zone soon, After Athens, the idea of ​​exit from the euro zone is almost impossible, but with the organization of new elections results are not known, it has become this is a possibility in a very large. On the other side of the world China will work to speed up approvals of qualified foreign institutional investors looking to buy into its domestic securities, as part of reforms to add depth to the country’s capital markets. The foreign exchange regulator has already accelerated approvals for long-term foreign investors such as pension funds, raising their initial investment quotas and simplifying procedures after the government last month more than doubled quotas for QFIIs to $80 billion from $30 billion, according to a statement on the State Administration of Foreign Exchange's website yesterday.



Euro was higher against the U.S. Dollar on Monday.
EUR / USD was trading at 1.2797, up 0.14% at the time of 3:00 GMT.
The pair was likely to find support at 1.2643, lower level Friday, and resistance at 1.2813, the highest level today.

At the same time, the euro rose against the British pound and Japanese yen, and the EUR / GBP increased by 0.06% to reach 0.8084 and EUR / JPY up 0.30% to reach 101.29



Tanzania increased production of gold to 40.4 tons in the year 2011, after reaching 35.6 tons in 2010, after the mining companies to invest money to increase production by increasing the flow of funds from the impact of rising gold price. This came in a report to the Central Bank recently released Altnzana. Tanzania is located east of the African continent's fourth largest gold producer after all of South Africa, Ghana and Mali. The increased profit from the export of gold by a remarkable 47%, to reach profits to 2.226 billion dollars in the past year, and this surge is attributable to increased production on the one hand, and to higher world market prices on the pagan.

Market events

Wednesday may May 22th

10:00 am        USD       Existing Home Sales
10:00 am        JPY       Monetary Policy Statement
10:00 am        JPY       Overnight Call Rate