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Forex-Metal Daily Report - 26/02/10
Written by article default Friday, 26 February 2010 17:06
The negative influence of the released fundamentals increased the demand for the yen, as a shelter-currency.
Euro: The speculations regarding the fact, the rating agencies Standard & Poor's and Moody's could reduce the rating of Greece, had a negative influence on the euro dynamics. In addition, Germany denied the information, that the bail out plan for Greece actually exists. The demand for the high-risk currencies continued to drop, and the investors were interested to acquire the shelter-currencies.
The EUR/USD pair showed minimums in the range of $1,3450, and only by the end of the trading day the rate managed to rehabilitate a little.
US Dollar: The negative US unemployment data, which was released on Thursday, has a disappointing influence on the market participants. In particular, the initial jobless claims increased and turned out to be above the forecast: the factual level of 496 thousand against the expected 460 thousand.
British Pound: The unexpected and rather significant drop of the monthly and yearly total business investment volume in Great Britain pressured the sterling.
And the GBP/USD pair established its minimums at the level of $1,5190.
Japanese Yen: Due to the increased demand for the shelter-currencies, the yen rate consolidated.
The USD/JPY pair reached its minimum level at Y88.78.
Oil: The oil traded around the $79.57 mark per barrel.
Gold: The gold price consolidated around the level of $1108 per ounce after the decrease to $1089.10.