Euro gains ground against dollar, while investors expect the central bank decisions. A new injection of liquidity?

The euro appreciated against the dollar and stocks rose on Tuesday, according to the worsening crisis of sovereign debt in Europe and its impact on global economic growth could lead to measures to stimulate the central banks of major economies of the world?

1. U.S. central bank Federal Reserve begins a two day meeting that will set monetary policy, paying particular attention to the need for new stimulus measures to support frail recovery.
Also, surprising drop in inflation in the UK in May increases the chances that the Bank of England to take additional measures to support the UK economy, the intensification of problems in the euro area.
"Everything leads to another injection of liquidity into the system," said Francois Savary, head of Swiss investment bank Reyl.
However, gains in riskier asset markets have been limited due to concerns about the surge in short-term borrowing costs of Spain, the decline in German investor confidence and recent worries about Greece's commitment to respect the rescue .
The European currency has gained 0.3 percent to around $ 1.2622. Meanwhile, pan-European FTSEurofirst stock index rose 0.75 percent to 300 at 1001.19 points, while Brent oil price reached its lowest level in 17 months, reaching $ 94.44 a barrel amid weak demand caused by slowing eurozone economy.
On the other hand, Spain on Tuesday paid interest rates of over 5 percent to sell Treasury securities in issue on 12 and 18 months, investors are worried that the state will soon have to seek international aid.
"Yields over 5 percent in both lines were returned to levels seen in November 2011, when the market was in a strong stress and the ECB was forced to intervene," said Peter Chatwell, a strategist at Credit Agricole.
Earlier this year, borrowing costs in the euro area fell sharply after European Central Bank flooded the market with about 1,000 billion in cheap loans granted in two long-term refinancing operations, but they have returned to high levels thereafter.
Spain said the ECB should take additional measures to ease the situation on the markets, but the central bank chairman, Mario Draghi, said this month that it is up to politicians to 'fix' the euro area.
However, he gave indications of a decline soon, interest rates, talking about the risks of slowing European economy and that there were risks of inflation in the euro area countries.

2.  In Germania, indicele lunar ZEW, care masoara increderea investitorilor, a scazut in iunie cu cea mai mare rata din octombrie, la -16,9 puncte, de la valoarea de 10,8 inregistrata in mai, mult sub prognoza unui sondaj Reuters format din 42 de analisti, care se asteptau ca indicele sa ajunga la 4,0 puncte.

"In cel de-al doilea trimestru, economia Germaniei este de asteptat sa incetineasca semnificativ, in special investitiile private", a afirmat Christian Schulz, economist senior la Berenberg Bank.