Thứ Sáu, 11 tháng 11, 2011

Market review for 10.11.11: The ECB started buying Italian government bonds and the euro rose against major currencies.


Forex-Metal Daily Market Review

Daily review for 10.11, 2011

The ECB started buying Italian government bonds and the euro rose against major currencies.

 

Asian and European trading sessions:

Euro:  The Euro fell today and touched its monthly lows in the threshold of the auction for the Italian debt securities' sale.

 

The Euro rose against major currencies and partially rehabilitated some of its yesterday losses. The EUR/USD pair grew above the mark of $1.3650. The EUR was supported by the fact that the ECB began to buy  Italian government bonds.

 

British Pound: The GBP/USD pair fell below the $1.5900 area, but later on during the European trading session the pair strengthened to the $1.5988 area

Japanese Yen: The Japanese yen strengthened against most of its major partners, as traders continued to consider its save–heaven status. During the both trading sessions the USD/JPY pair traded in the range of Y77,55 - Y77,85.

 

Canadian Dollar: The Canadian dollar fell to its lowest level in three weeks against the US Dollar due to the growth of the U.S. dollar as the " safe haven " currency.

 

American trading session:

Euro: The investors' fears regarding the debt crisis decreased after the S & P agency confirmed that the credit rating of France, the second largest economy in the region, remained at AAA. Euro recovered from its deepest today's lows against the US dollar

 

The dollar index fell by 0.5 % and reached the Y77.60 level against the background of decreasing demand for safe-haven currency and also after the report of the Ministry of Labor showed that the number of Americans filing applications for unemployment benefits dropped.

 

 

 

 

 

 

 


 

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