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Forex-Metal Daily Report - 03/03/10
Written by article default Wednesday, 03 March 2010 19:44
The released information, regarding the possibility that Greece could announce of the reduction of the budget deficit, supported the euro.
Euro: The released information, that the government of Greece planned to inform of the reduction of the budget deficit for 4.8 billion euro on Wednesday, supported the euro currency.
And the EUR/USD pair demonstrated its growth to the level of $1,3620.
US Dollar: Against the background of the positive news from Greece, the US dollar could not continue to stabilize. Though, due to the American stock markets growth, the dollar managed to strengthen temporarily.
British Pound: The political situation in Great Britain continued to render negative influence on the sterling.
And the GBP/USD pair traded in the range of $1,4850 - $1.4999.
Japanese Yen: The Japanese yen continued to strengthen.
The USD/JPY pair dropped to the level of Y88.53.
Australian Dollar: According to the expectations, the Central Bank of Australia increased the principal rate to 4%, which pushed Australian dollar upwards.
Canadian Dollar: According to the predictions, the Bank of Canada left the principal rate unchanged at the previous level of 0.25%. The speculations regarding the possible increase of the principal rate in the nearest future rendered positive influence on the national currency dynamics. And the Canadian GDP growth for 0.6%, which was published on Monday, supported the Canadian dollar increase.
Oil: The oil price grew to the level of $79.66 per barrel.
Gold: The gold rate increased to the level of $1128.80 per ounce.
Silver: The silver price grew to the $16.80 mark per ounce.