The Euro grew supported by results of the Spain government bond auction.
Asian and European trading sessions:
Euro: The Asian trading session, especially its second part, showed us the outgrowth of the Euro currency. The EUR/USD pair rose on the positive anticipations of the Spain government bonds auction and had rallied to its session's highs of $1.3034 level at the end of the session. However, the resistance of this level proved futile and the couple pulled back down to test the $1.2960 support level. The result of Spain bond's auction had a positive effect for Euro currency. In details, today Spain sold its bonds for 6.03 billion euro versus planned 3.5 billion euro. The EUR/USD had a sharp snapback recovering from its daily lows to the highs of previous session. Indeed, the European session was quite volatile for the EUR/USD couple.
British Pound: The Pound traded positively during the European trading session. The range of its trading day laid between $1.5432 to $1.5527
Japanese Yen: The USD /JPY pair consolidated at the Y78.08 level during the Asian trading session. There was a insignificant fall to lows of Y77.83 at the European session.
Swiss Franc: During both sessions, the Swiss franc rose against all major currencies amid expectations of the decision of the Swiss central bank. It was expected that the SNB will refrain from weakening the CHF currency. The Franc rose against the US dollar and Euro after the Swiss National Bank left the "anchor" of the national currency to the Euro at the same level.
American trading session:
US Dollar: Published today's statistics recorded a decrease in the number of Initial Job Claims for the first week of December (366K versus forecasted 390K) . Also, the other good news was a significant increase in the index of activity in the manufacturing sector from the Federal Reserve Bank of New York, which showed 10.3 value with forecasted 5.These statistics did not support the US Dollar.
Oil: The WTI futures suffered another loss today closing at the $93.41 per barrel. In details, OPEC decided to increase the quota for the production from 24.845 million bpd / day to 30 million barrels / day. This decision was made for first time since 2008, where the Organization of the Petroleum Exporting Countries (OPEC) decided to raise quotas for hydrocarbons production.
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