Thứ Sáu, 25 tháng 11, 2011

Market review for 24.11.11: The business climate index in Germany calculated by IFO Institute grew in November.


Forex-Metal Daily Market Review

Daily review for 24.11, 2011

 

The business climate index in Germany calculated by IFO Institute grew in November.

 

Asian and European trading sessions:

Euro: At the beginning of Asian trading session the Euro rose against major currencies supported by the demand of investors for the European region assets. One of the reasons for that increase was the positive report of German GDP which recorded the same +0.5% (QoQ) and +2.6% (YoY)  as per the forecast. Another reason was today's data that showed that the business climate index in Germany calculated by IFO Institute as the results of November grew to the level of 106.6 points versus forecasted 105.5. During the European session the EUR/USD pair traded in the $1.3356 - $1.3410.

US Dollar: The U.S. dollar rate corrected by declining against the Euro and other major currencies after it's yesterday's rally. This correction had  technical character and US Dollar still carried its title of safe-haven asset.

British Pound: The British pound rose during the both sessions. The GBP/USD pair traded in the $1.5501 - $1.5564 range and continued its downtrend by the end of European session.

Japanese Yen: The yen rose against most major currencies of the 16, before the publication of the business climate index in Germany. The USD/ JPY couple slide to its daily low of Y77.01 right at the beginning of Asian trading session.

Oil: The WTI futures finished its day by closing at $97.02 per barrel.

Gold: Had a quite narrow trading range today and closed at $1694.83 per troy ounce.

 

American trading session:

U.S. financial markets  were closed today due to a National holiday, Thanksgiving  Day.

 

 

 

 

 

 

 

 


 

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