The reports of Initial Jobless Claims and Consumer Confidence positively influenced US markets today.
Asian and European trading sessions:
Euro: The Euro recovered some of its yesterdays loses against the U.S. dollar, on the backdrop of France and Italy preparations for selling their governments bonds on the next week. The EUR/USD pair set its daily high at $1.3120 area at the beginning of today's trading day. However, during the first half of the European session the couple dropped to $1.3030 level. Still, the negative impact which pressured the euro currency have rumours that the S & P credit agency may reduce the credit ratings of the 15 EU countries, including the region 's largest, Germany and France.
British Pound: The GBP/USD pair traded within $1.549 and $1.5729 levels. The report of UK GDP for the third quarter, which showed better than expected value, +0.6 % against the previous report and the forecasted 0.5 % , did not have adequate support to the pound. Moreover, the recorded growth of current account deficit of payments balance which reached a record high for the third quarter (-15.2 billion pounds) pressured the currency. The GBP / USD pair traded near its lows of $ 1.5670 for the rest of the European session.
Japanese Yen: The USD/JPY pair continued its bullish trend and traded mostly at its daily highs of Y78,15 at the second half of European session.
American trading session:
US Dollar: The U.S. dollar grew for a while, in spite of negative data on the GDP for the third quarter, where the value proved to be 1,8% against forecasted 2,0%. The currency was supported by the Labour market's report, where the value of Initial Jobless Claims recorded 364 000 against the prediction in 376 000.The number fell to its lowest level since April 2008.Although, the other good news of increasing the consumer confidence, which grew to 69.9 value, was not supportive for the currency yet positively influenced the stock market indices.
Gold: The Gold prices fell today to 1599.10 dollars per troy ounce. The Gold started to behave like a high-risk asset, becoming to be expensive only when the decline of the U.S. dollar occurs.
Oil: Oil rose for the fourth day in a row. The support for today was provided by the news of the US labour market which reinforced optimism of investors that the growth of the American economic would accelerate. The WTI, Crude oil future on the NYMEX today closed at $99.56 per barrel adding 88 cents.
