The ECB president, Mr. Mario Draghi: "The Euro Zone's prospects became "increasingly uncertain "".
Asian and European trading sessions:
Euro: The EUR / USD pair was trading between $ 1.3136 -$ 1.3158.during the Asian session. The Euro was still under pressure in anticipation of today's meeting of the European Central Bank, where the ECB president, Mr.Mario Draghi should have been talked of further measures to stimulate the economy and announced the decision of the Bank regarding the interest rate of Euro zone. The decision of the ECB was keeping the interest rate at 1.00 % which matched analysts' forecasts. The reaction of euro's trading dynamics on this news was rising to a session's high against the dollar, the region of $1.3175 area. However, on fact that Mr. Draghi had not signaled on a possible easing of monetary policy in his speech, the EUR / USD couple did not go higher than this level.
U.S. Dollar: The US dollar strengthened against most of its major competitors against the increased demand for currencies with safe haven status.
Japanese Yen: The USD / JPY pair recovered after yesterday's fall during the Asian trading session. The USD / JPY couple tested a high of Y80, 54 by the end of the European session.
New Zealand dollar: The New Zealand dollar suffered a big loss today trading down against other major currencies. The kiwi came under pressure due to the disappointed Unemployment report. The result of the report showed that in the first quarter of 2012 the rate jumped to 6.7% versus forecasted 6.2. The news reinforced expectations that the interest rate of the country would be kept unchanged for a longer period of time
American trading session:
New Zealand dollar: The New Zealand dollar fell even more during the American session reaching the level of $ 0.7986 on the backdrop of increasing the unemployment in New Zealand. That time the market participants took short position on the currency on speculations the New Zealand's central bank would be forced to lower the interest rate at its next meeting.
Japanese Yen: The USD / JPY pair dollar retreated from daily highs to lows of Y80.15 against the report on ISM Non-Manufacturing Composite index of the U.S. service sector which fell in April to 4 -month low of 53.5 from previous 56 and was weaker than analysts' forecasts of 55.3.
Gold: The decision of European Central Bank on interest rates also influenced the trading dynamics of the Gold. The cost of the June gold futures fell today to $ 1630.7 per troy ounce on the COMEX.
Oil: The cost of the June futures of WTI fell to $ 102.65 on the NYMEX per barrel today, suffering the highest intraday sell-off since the beginning of April. The reason for that drop was words of the President of European Central Bank, Mr. Mario Draghi, who noticed that the economic prospects of the euro area became "increasingly uncertain ".
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