Thứ Tư, 4 tháng 1, 2012

Market review for 03.01.12: The US dollar fell against the background of positive economics’ statistics and reducing the demand for "safe haven “currencies.


Forex Metal Daily Newsletter

Daily review for 03.01, 2012

The US dollar fell against the background of positive economics' statistics and reducing the demand for "safe haven "currencies.

 

Asian and European trading sessions:

 

Euro: One of the reasons of euro's today growth against the U.S. dollar were the better than expected data on the indexes of business activity in the manufacturing sectors in France and Germany and the EU as a whole. The EUR / USD pair strengthened up and showed a maximum at the level of $ 1.30594 at the European trading session. Also, the support for the couple was provided by report of the Germany's labor market, which recorded improved employment situation in the EU's largest economy. The unemployment rate fell to 6.8% from previous 6.9%.

 

 

US Dollar: The increased demand for risky assets caused by reducing in investor's negative sentiment pressured the US dollar today. The Dollar Index fell by 0.7% to 79.83 values. The positive reports of manufacturing activity in China and India which were published earlier this week also supported for increased investor appetite for risky assets.

 

Japanese Yen: The USD / JPY pair remained trading in narrow trade range of the Y76, 63 to Y76, 84 levels at both trading sessions.

 

 

American trading session:

US Dollar: After the published positive statistics, which showed signs of extending in production in China and the U.S, the US dollar fell against the majority of the most traded currencies. In details, the US ISM Manufacturing Index grew to 53.9 in December 2011.

 

Gold: February Gold prices in electronic trading at the New York Stock Exchange grew to 1608.7 per troy ounce on Tuesday amid falling demand for the currency with "safe haven "status.

 

Oil: Today, the February futures price of U.S. light crude oil WTI in trading in New York rose to 102.88 dollars per barrel. Oil rose to a 6- week high at auction in New York, as the positive economic statistics of the U.S., China and Germany have reduced the concerns that the World would fall into recession.

 

 



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