The market participants continued to accumulate their long positions on Gold and Oil futures.
Asian and European trading sessions:
Euro: Today, during the Asian trading session, the Euro currency traded in relatively narrow range against the US dollar. The EUR / USD pair traded between $ 1.3023 and $ 1.3044 levels. The European trading session showed the decrease of the Euro against major currencies amid the weak results of the auction on government bonds of Germany, which resulted that only the amount of 4,057 billion euro were collected compare to planned 5.0 billion euro. Also, the pressure on the euro also had forecasted decrease for GDP in Germany reported by the DIW, German Institute for Economic Research. The forecast for GDP growth in Germany in 2012 was reduced to 0.6 % from previously estimated +1, 0% .The EUR / USD pair fell to $ 1.2933 level.
US Dollar: The US dollar was strengthening against its competitors amid falling stock markets in Europe. This fact was supportive for a while for the demand for relatively safe assets.
British Pound: The GBP / USD pair could not overcome the $ 1.5666 level at beginning of the European trading session. Finally, the couple declined to $1.5600 recording its daily low at $1.5578 mark.
American trading session:
US Dollar: The support for US the dollar was provided by released statistics which showed that in November, the U.S. Factory Orders increased by 1.8 %.This report announced by the Department of Commerce, stated that these orders jumped compare the previous value of -0.2% and resulted quite positive news for the US economy.
British Pound: The British pound rose against its competitors. The report of Purchasing Manager Index Construction, business activity in the construction sector in Britain, recorded 53.2 value in December and exceeded forecasted value of 51.5.
Gold: February gold reached its daily high at $1618.36 and closed this trading day near the area of $1610 per troy ounce.
Oil: Also, the February futures price of U.S. light crude oil, WTI had a positive trading dynamic day and closed near the level of 103.12 dollars per barrel, which is the same level with highs of May 2011.
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