The euro exchange rate rose slightly against the dollar, recovering with a minimum values ​​of the session. Note that the dynamics of trade affected information that the incumbent President of Italy Giorgio Napolitano was re-elected for a second term. 87-year-old Napolitano agreed to once again participate in the elections, after parliament failed to elect the fifth attempt of his successor. On the eve of the Italian center-left leader Pier Luigi Bersani said he would step down as chairman of the Democratic Party, unless the parliament will elect a new president. Bersani, previously regarded as the most likely candidate for the post of prime minister, said the refusal of the leadership in the party, after the parliament did not support his proposed two candidates for the presidency. Also presented today by the National Association of Realtors report showed that purchases in the secondary market fell last month by 0.6% to 4.92 million for the year. The median forecast of economists projected sales would increase to 5.00 million Estimates ranged from 4.9 million to 5.2 million homes on the market prices rose, reflecting the growing demand for more expensive homes. The pace of previous months have been revised to 4.95 million from a previously reported 4.98 million purchase in the secondary market to gradually rise from a 13-year low of 4.11, which was achieved in 2008. The largest volume reached 7.08 in 2005. The average price of homes sold in the secondary market increased by 11.8 percent, the highest since November 2005, to $ 184,300 last month from $ 164,800 in March 2012.

Value of the pound rose against the dollar after amplification of risk aversion on weak report on the U.S. housing market. Note that the GBP / USD managed to recover and even reach new daily highs. Recall that the international rating agency Fitch Ratings downgraded the sovereign rating by one notch the UK - with the highest possible "AAA" to "AA +". The rating outlook - "stable," the agency said. Two months ago, a similar rating action taken agency Moody's Investors Service, the credit rating worsening the UK to "Aa1".

The yen rose against the dollar, and once again failed to take the mark Y100.00, despite the fact that the G20 has given Japan the green light on the issue of monetary policy easing, believing Aso and Kuroda, that it is aimed at fighting deflation. Note also that in fact, a weak report on the U.S. housing market has helped to reduce the mood and the USD / JPY briefly fell below 99.00. However, the pair was able to recover, and now is consolidating above 99.00. We also add that the short-term indicators for the pair USD / JPY were negative, but in a broader perspective, the positive tone prevails. However, the daily charts are moving away from overbought levels. The pair may have to wait before it attains sufficient strength to break 100.00.

European stocks rose, rebounding from the biggest weekly drop in five months, as Italy elected a president and the Group of 20 refrained from opposing the Bank of Japan’s stimulus policies.

The Stoxx Europe 600 Index (SXXP) advanced 0.2 percent to 285.68 at the close of trading. The benchmark gauge pared an earlier gain of as much as 0.9 percent as U.S. home sales unexpectedly fell. The measure retreated 2.5 percent last week as economic data from the U.S. to China missed forecasts. It has still risen 2.2 percent this year.

National benchmark indexes climbed in 11 of the 18 western European markets.

FTSE 100 6,280.62 -5.97 -0.09% CAC 40 3,652.13 +0.17 0.00% DAX 7,478.11 +18.15 +0.24%

Giorgio Napolitano was elected to a second term as Italy’s president after accepting a last-minute appeal from party leaders to run again. The 87-year-old incumbent won the backing of parties led by former premier Silvio Berlusconi, caretaker Prime Minister Mario Monti and outgoing Democratic Party leader Pier Luigi Bersani. His re-election came after the country’s divided Parliament failed to agree on a candidate in the first five rounds of voting, an impasse that led Bersani to resign. Italy has yet to form a new government eight weeks after inconclusive elections.

In the U.S., purchases of previously owned houses fell 0.6 percent to a 4.92 million annual rate last month, figures from the National Association of Realtors showed. The median forecast of economists projected sales would increase to a 5 million rate.

UniCredit, Italy’s largest lender, gained 2.7 percent to 3.73 euros. Banco Popolare SC, the fourth-biggest bank by assets, rose 4.5 percent to 1.10 euros. Mediobanca SpA, the nation’s largest publicly traded investment bank, added 2 percent to 4.67 euros.

Assicurazioni Generali SpA (G), Italy’s biggest insurer, added 5.2 percent to 13.48 euros, the highest price since Feb. 1. The stock was upgraded to overweight, a rating similar to buy, from equal weight at Barclays Plc, which said the company may raise its dividend this year.

Delhaize soared 11 percent to 47.16 euros, the highest since November 2011. First-quarter operating profit before one- time items rose 13 percent to 214 million euros ($279 million), the Brussels-based company said. Analysts had projected a decline to 175 million euros, according to the average of 17 estimates published on its website. Comparable sales in the U.S. gained 1.9 percent, the most in six quarters.

SMA Solar Technology AG, Germany’s biggest solar-energy company by market value, surged 4.7 percent to 18.32 euros after ABB Ltd. (ABBN) agreed to buy U.S. peer Power-One Inc. for about $1 billion. Meyer Burger Technology AG, which supplies machinery to solar-panel makers, advanced 3.7 percent to 7.37 Swiss francs.

Randgold Resources Ltd., a miner of the precious metal in Africa, jumped 4.4 percent to 4,870 pence as gold prices increased for a fifth day.

Philips slid 5.2 percent to 20.54 euros, the biggest drop since May 2012. First-quarter earnings before interest, taxes, amortization and one-time items were 421 million euros, the world’s largest lighting manufacturer said, missing estimates of 441 million euros. Sales dropped 0.9 percent to 5.26 billion euros, trailing the 5.48 billion-euro analyst projection.

Oil prices rose, which was associated with the publication of U.S. data on home sales in the secondary market. According to a report from the National Association of Realtors, purchases in the secondary market fell last month by 0.6% to 4.92 million for the year. The median forecast of economists projected sales would increase to 5.00 million Estimates ranged from 4.9 million to 5.2 million homes on the market prices rose, reflecting the growing demand for more expensive homes. The pace of previous months have been revised to 4.95 million from a previously reported 4.98 million

Purchase in the secondary market is gradually raised from 13-year low of 4.11, which was achieved in 2008. The largest volume reached 7.08 in 2005. The average price of homes sold in the secondary market increased by 11.8 percent, the highest since November 2005, to $ 184,300 last month from $ 164,800 in March 2012.

Meanwhile, today, the UAE Minister of Energy Mohammed Suhail Al Mazrui told reporters that the Organization of Petroleum Exporting Countries plans to hold a ministerial meeting on the 31 May. In addition, he is in his speech, he added that the market is balanced and there is no oversupply in the market. At the same time, the CEO of Qatar Petroleum Marketing Saad al-Kuwari said that oil will trade at $ 100 per barrel in the third quarter after the second quarter will mark the correction of excess supply and falling stock markets.

May futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 88.20 dollars per barrel, the lowest intraday level since Dec. 19.

May futures price for North Sea Brent crude oil mixture rose $ 0.64 to $ 100.07 a barrel on the London exchange ICE Futures Europe.

The price of oil has decreased significantly today in anticipation of the publication of today's reserves data from the American Petroleum Institute .

Experts believe the increase in oil immediately to 3 million barrels for the week ended April 18 - to 397.1 million barrels . This evidence may be the highest since May last year . Fuel reserves are expected to have decreased by 1.9 million barrels , distillate - 300 thousand barrels.

Investors also await the weekly Energy Information Administration report on crude oil inventories in the U.S., which will be presented on Wednesday to assess the prospects for demand the world's largest energy consumer . Analysts expect that the report will show the increase in oil inventories last week , while gasoline inventories probably reduced. Last week, the EIA reported that crude oil inventories rose more than forecast at 10.01 million barrels for the week ended April 11. It was the maximum weekly increase in U.S. oil inventories over the past 13 years.

The dynamics are also influenced by the fact that on the eve of the Iranian government confirmed the shift of some heads nuclear agency of the country , who were opposed to negotiations with the West on Iran's nuclear program .

" This is good news , which may hold prices . If negotiations are successful , the market will get more Iranian oil " - experts say .

It is also worth noting that the supply situation in the oil market remains very good, despite the missing supply from Libya. This is partly due to the increase of production in the Gulf countries and the U.S. , as well as the fact that sanctions against Iran have been weakened since November. Nevertheless , investors fear that further Western sanctions against Russia could disrupt oil supplies from the key manufacturer .

June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 101.88 per barrel on the New York Mercantile Exchange (NYMEX).

June futures price for North Sea Brent crude oil mixture rose 95 cents to $ 108.88 a barrel on the London exchange ICE Futures Europe.

Gold prices rose significantly today, helped by an increase in physical purchases, after falling last week to two-year low. However, investors continued to reduce their holdings in the biggest exchange-traded fund to its lowest level in nearly three years. From a technical perspective, gold, the value of which fell this year by more than 15% may continue to fall, despite the increase in physical purchases in Asia and other regions. Note also that the last Monday gold has shown the largest ever daily decline in dollar terms, which shocked many investors who have used gold as a hedge against inflation and other market risks.

But, at the same time, as investors fled the market, the fall in prices has reached the pending orders, which increased retail demand. We also add that the U.S. Mint announced the sale of gold coins in the amount of 167,500 ounces (in April), which is the highest level since May 2010, and half of the monthly maximum.

Investors also say that it is likely that the U.S. Federal Reserve may soon cease bond-buying program, which could ease inflationary pressures. Meanwhile, analysts say that the market is subject to intensive sales, while many physical players estimate the prices are really attractive, however, they still believe that the market has gone through a fundamental shift and that a sustained rebound is very unlikely.

The data also showed that the gold reserves in one of the largest exchange-traded fund SPDR Gold Trust, fell on Friday by 0.88% - the lowest level since May 2010. Note that the outflow of capital from exchange-traded funds may mean that investors invest their money in other assets, but the trade data in the United States, which were published last week showed that the funds were invested in gold futures.

The cost of the June gold futures on COMEX today dropped to 1424.30 dollars per ounce.

The combined budget deficit of the euro area fell to 3.7 percent of gross domestic product from 4.2 percent in 2011, Eurostat said Monday.

However, government debt increased to 90.6 percent of GDP from 87.3 percent in the prior year.

The European Commission estimated the deficit to narrow to 3.5 percent of GDP in 2012 and then to fall to 2.8 percent in 2013.

The lowest government deficit in percentage of GDP was registered by Estonia, followed by Sweden, Bulgaria and Luxembourg. Meanwhile, Germany posted a government surplus of 0.2 percent.

Despite widespread austerity measures, Spain's budget deficit widened to 10.6 percent of GDP in 2012 from 9.4 percent. The 2012 shortfall was bigger than the EU estimate of 10.2 percent.

The French budget deficit came in at 4.8 percent of economic output, down from 5.3 percent in 2011, but exceeded its official target of 4.5 percent.

Existing home sales in the U.S. unexpectedly decreased in the month of March, according to a report released Monday by the National Association of Realtors, which attributed the drop in sales to inventory constraints.

NAR said existing home sales fell 0.6 percent to an annual rate of 4.92 million in March after inching up by 0.2 percent to a downwardly revised 4.95 million in February.

The drop surprised economists, who had expected existing home sales to edge up to 5.03 million from the 4.98 million originally reported for the previous month.

EUR/USD $1.2975, $1.3000, $1.3095, $1.3100, $1.3110, $1.3120, $1.3150

USD/JPY Y98.50, Y98.55, Y99.25, Y99.50, Y100.00(large), Y100.50

EUR/JPY Y128.00, Y129.00, Y130.00

GBP/USD $1.5300

EUR/GBP stg0.8525

AUD/USD $1.0205, $1.0350, $1.0400, $1.0410

AUD/JPY Y102.20

NZD/USD $0.8400

AUD/NZD NZ$1.2150

USD/CAD C$1.0175, C$1.0230

U.S. stock futures rose as the Group of 20 finance ministers failed to oppose Japan’s monetary policies at a meeting.

Global Stocks:

Nikkei  13,568.37 +251.89 +1.89%

Hang Seng 22,044.37 +30.80 +0.14%

Shanghai Composite 2,242.17 -2.47 -0.11%

FTSE  6,307.66 +21.07 +0.34%

CAC  3,659.97 +8.01 +0.22%

DAX 7,499.67 +39.71 +0.53%

Crude oil $88.87 +0.98%

Gold $1427.80 +2.31%

Upgrades:

Apple (AAPL) upgraded to Buy from Hold at BGC Partners  

Apple (AAPL) upgraded to Outperform from Market Perform at Avondale

Downgrades:

McDonald's (MCD) downgraded from Buy to Outperform at Credit Agricole

General Electric (GE) downgraded to Neutral from Overweight at JP Morgan

Verizon (VZ) downgraded to Neutral from Outperform at Macquarie

Other:

The yen continues to trade in the region of 100 yen to the dollar after the representatives of the G20 did not criticize the actions over the soft monetary policy of the Bank of Japan. Moreover, the head of the Central Bank Haruhiko Kuroda has already hinted about expanding the monetary stimulus at the second meeting under his leadership, which will take place this week.

Euro fell back from progress made at the beginning of the session maksimov against the U.S. dollar after the current president of Italy, Giorgio Napolitano, was re-elected for a second term. 87-year-old Napolitano agreed to once again participate in the elections, after parliament failed to elect the fifth attempt of his successor. On the eve of the Italian center-left leader Pier Luigi Bersani said he would step down as chairman of the Democratic Party, unless the parliament will elect a new president. Bersani, previously regarded as the most likely candidate for the post of prime minister, said the refusal of the leadership in the party, after the parliament did not support his proposed two candidates for the presidency.

The pound was trading without a definite trend. Recall that the international rating agency Fitch Ratings downgraded the sovereign rating by one notch the UK - with the highest possible "AAA" to "AA +". The rating outlook - "stable," the agency said. Two months ago, a similar rating action taken agency Moody's Investors Service, the credit rating worsening the UK to "Aa1".

EUR / USD: during the European session, the pair fell to $ 1.3036

GBP / USD: during the European session, the pair rose to $ 1.5246

USD / JPY: during the European session, the pair retreated to Y99.66

At 12:30 GMT the U.S. will report on the index of economic activity from the Chicago Fed in March. At 14:00 GMT Eurozone will publish an indicator of consumer confidence for April. At 14:00 GMT the United States will sales in the secondary market in March.

EUR/USD

Offers $1.3195/200, $1.3170/80, $1.3150/55, $1.3130, $1.3100, $1.3075/85

Bids $1.3050, $1.3030/20, $1.3010/00, $1.2990, $1.2970, $1.2950/40

GBP/USD

Offers $1.5330, $1.5300/10, $1.5280/85, $1.5255/65

Bids $1.5200, $1.5275/70, $1.5255/50, $1.5200

AUD/USD

Offers $1.0380, $1.0345/50, $1.0320, $1.0300/10, $1.0280/85

Bids $1.0250, $1.0240/30, $1.0220, $1.0200, $1.0185/80, $1.0155/50, $1.0120/15

EUR/GBP

Offers stg0.8630/40, stg0.8610/15, stg0.8600, stg0.8580/85

Bids stg0.8500, stg0.8485/80, stg0.8460/50

EUR/JPY

Offers Y131.50, Y131.00, Y130.65/70

Bids Y129.75/70, Y129.55/50, Y129.25/20, Y129.00, Y128.80

USD/JPY

Offers Y100.40/45, Y100.25, Y100.15/20, Y100.00

Bids Y99.50, Y99.20, Y99.00, Y98.55/50

European stocks rose, rebounding from the biggest weekly drop in five months, as Italy elected a president and the Group of 20 refrained from opposing the Bank of Japan’s stimulus policies.

Italian bonds advanced, pushing the yield on the two-year notes to as little as 1.208 percent, the lowest since began compiling the data in 1993.

Giorgio Napolitano was elected to a second term as Italy’s president after accepting a last-minute appeal from party leaders to run again. The 87-year-old incumbent won the backing of parties led by former premier Silvio Berlusconi, caretaker Prime Minister Mario Monti and outgoing Democratic Party leader Pier Luigi Bersani.

BOJ Governor Haruhiko Kuroda emerged from the G-20 meeting saying he was emboldened to press ahead with the campaign to defeat deflation. The central bank meets this week after pledging April 4 to double the monetary base in two years.

Italy’s FTSE MIB Index advanced 2.3 percent as Banco Popolare, the nation’s fourth-biggest bank by assets, rose 4.6 percent to 1.10 euros. Mediobanca SpA, Italy’s largest publicly traded investment bank, added 3.3 percent to 4.73 euros while UniCredit SpA, Italy’s biggest lender, gained 4.6 percent to 3.79 euros.

Assicurazioni Generali SpA, Italy’s biggest insurer, added 5.2 percent to 13.48 euros. The stock was raised to overweight, a rating similar to buy, from equal weight at Barclays Plc, which said the company may raise its dividend this year.

Delhaize soared 11 percent to 47.33 euros, the biggest jump since March 2009. First-quarter operating profit before one-time items rose 13 percent to 214 million euros ($279 million), the Brussels-based company said. Analysts had projected a decline to 175 million euros, according to the average of 17 estimates published on the company’s website. Comparable sales in the U.S. advanced 1.9 percent, the most in six quarters, and rose 2.4 percent in Belgium, corrected for a calendar impact.

FTSE 100 6,334.38 +47.79 +0.76%

CAC 40 3,669.33 +17.37 +0.48%

DAX 7,512.52 +52.56 +0.70%

EUR/USD $1.2975, $1.3000, $1.3095, $1.3100, $1.3110, $1.3120, $1.3150 USD/JPY Y98.50, Y98.55, Y99.25, Y99.50, Y100.00(large), Y100.50 EUR/JPY Y128.00, Y129.00, Y130.00 GBP/USD $1.5300 EUR/GBP stg0.8525 AUD/USD $1.0205, $1.0350, $1.0400, $1.0410 AUD/JPY Y102.20 NZD/USD $0.8400 AUD/NZD NZ$1.2150 USD/CAD C$1.0175, C$1.0230

Asian stocks rose for a second day, led by Japanese exporters as the yen slid to a four-year low against the dollar after the Bank of Japan’s stimulus policies were unopposed at a Group of 20 meeting.

Nikkei 225 13,568.37 +251.89 +1.89%

Hang Seng 22,084.58 +71.01 +0.32%

S&P/ASX 200 4,966.6 +34.69 +0.70%

Shanghai Composite 2,242.17 -2.47 -0.11%

Nissan Motor Co., a Japanese carmaker that gets 79 percent of sales overseas, climbed 2.6 percent.

China Unicom Hong Kong Ltd., the nation’s second-largest wireless carrier, jumped 3.9 percent after increasing its third-generation mobile subscribers.

PICC Property and Casualty Co., China’s biggest non-life insurer, slipped 3 percent in Hong Kong after an earthquake struck the southwestern Chinese province of Sichuan at the weekend.

The yen weakened, nearing the 100 per dollar level not seen since 2009, after the Bank of Japan’s monetary stimulus policies were unopposed by the Group of 20.

Japan’s currency slid against most major peers after BOJ Governor Haruhiko Kuroda, who oversees his second policy meeting this week, said he was emboldened to press ahead with a campaign to defeat deflation.

The euro rose versus the greenback before Giorgio Napolitano is sworn in to a second term as Italian president. In Italy, Napolitano could begin consultations on a new government as soon as tomorrow. The resignation of Democratic Party leader Pier Luigi Bersani increases the chances Napolitano can convince the remnants of Bersani’s Democrats to join a coalition with Silvio Berlusconi’s People of Liberty party and end a stalemate that’s left Italy without a new government eight weeks after elections.

The Australian and New Zealand dollars rallied along with Asian stocks.

EUR / USD: yesterday the pair rose to $ 1.3085

GBP / USD: yesterday the pair rose to $ 1.5245.

USD / JPY: during the Asian session, the pair rose to Y99.90.

Although only limited data is expected Monday, there is still a full list of speaking events scheduled for Monday. The session licks off with the release of the eurozone 2012 1st release of general Govt deficit and debt data. The Bundesbank monthly report is due at 10GMT and is followed by a speech from ECB Executive Board member Benoit Coeure, speaking on the new euro banknotes, in Vienna. At 1315GMT, Norges Bank Governor Oystein Olsen is slated to give a lecture in Bergen, Norway. EU Vice President Olli Rehn will give a speech to the Paris Europlace forum in New York. At 1500GMT, French Finance Minister Pierre Moscovici will speak at the Europlace conference, in New York. France Bank of France Gov. Christian Noyer speaks at the forum in New York from 1700GMT.

12:30 U.S. Chicago Federal National Activity Index March 0.44

12:30 U.S. FOMC Member Dudley Speak

14:00 Eurozone Consumer Confidence April -23.5 -24.0

14:00 U.S. Existing Home Sales March 4.98 5.02

18:30 United Kingdom MPC Member Tucker Speaks