The Euro gained amid expectations that Europe will expand the fund for assistance to European countries.
Asian and European trading sessions:
Euro: During the Asian trading session the EUR/USD pair gained about 30 points amid expectations that Europe will expand the fund for assistance to European countries with debt problems in the Euro region, in the forthcoming meeting in Brussels tomorrow. The couple pulled back sharply pressured by rumours that the European Central Bank will reduce the basic interest rates at tomorrow's meeting. During the European the pair recorded its daily low at $1.3351 level.
US Dollar: The reason for falling of the U.S. dollar at the Asian trading session was the decline in the demand for safe-haven assets. However, this action had been limited by rumors that the euro zone will need more time to deal with the crisis and Japan in the near future may face the risk of reduction its credit rating. This led to an increase in demand for the US dollar and the currency recovered some of its previous loses.
British Pound: The GBP / USD pair traded in the narrow range of $ 1.5597 to $ 1.5645 during the both trading sessions.
Japanese Yen: It was again, narrow range day for USD / JPY. The pair traded around Y77.70 area.
Australian Dollar: The Australian dollar traded at its highs against major currencies in late Asian session on Wednesday. The support for the currency came from the news of strong economic growth in the 3rd quarter. In details: the GDP of Australia grew in 3d quarter to 2.5% against forecasted 1.8%
American trading session:
Euro: The currency strengthened against the US dollar, when the major U.S. stock indexes cut their morning loses and exploded in the afternoon, consequently put pressure on the US dollar.
British Pound: Rallied very sharply to its daily highs of $1.5722 after the report of the sterling significant purchases, which were related to M & A transactions
Gold: Today the price of Gold rose to $1.740,75 per troy ounce.
Oil: The U.S. light crude oil WTI during the today's auction in New York closed at 100.68 dollars per barrel.
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