Thứ Sáu, 24 tháng 2, 2012

Market review for 23.02.12: The Euro rallied against its competitors and the EUR / USD pair grew up to $ 1.3375 area.


Forex Metal Daily Newsletter

Daily review for 23.02, 2012

 

The Euro rallied against its competitors and the EUR / USD pair grew up to $ 1.3375 area.

 

Asian and European trading sessions:

 

Euro: The EUR / USD pair slightly increased during the Asian session to the level of $1.3277. The published today's results of February IFO business climate index in Germany showed a growth to the level of 109.6 points, the highest level in seven months versus predicted 108.6 points and the values ??for January at 108.3 points. On this positive news the euro currency rallied against its competitors and the EUR / USD pair grew up to its session high at $ 1.3342 mark.

 

 

 

British Pound: The GBP / USD pair grew up during the Asian session, restoring yesterday's losses. The GBP / USD couple rose to the level of $ 1.5724. Although, the report on the balance of factory orders from the Confederation of British Industry was significantly better than expected, the trading dynamics of pound did not get any effect.

 

 

Japanese Yen: Amid falling major stock indexes in the region the yen rose against 13 of the 16 major currencies. The USD / JPY dropped during the Asian session to the level of Y80.05. However, the European trading session showed the opposite trading dynamics and the USD / JPY pair pulled back to test previous day's highs at theY80.30 area.

 

 

American trading session:

 

 

US Dollar: The dollar fell after the published report on Initial Jobless Claims, the number of which remained almost unchanged, at a four -year minimum, becoming another testimony for the improvement of the U.S. labor market. As the result, this fact was prompting investors to reduce the demand for safe assets today.

 

Oil:  The WTI Oil futures on the NYMEX traded near 106 dollars a barrel, before a big jump to the $108.63 highs on the background of the report on U.S Inventories, which showed a decrease of the amount of Oil which is left there.

 

Gold:  The cost of the February gold futures kept today in the range of 1771.0 - 1787.1 per ounce.

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