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Forex-Metal Daily Report - 16/03/10
Written by article default Tuesday, 16 March 2010 17:41
The euro dynamics turned out to be negative again due to the speculations, that a number of Euro-zone countries would not help Greece.
Euro: Investors were acquiring low-risk currencies on Monday, since the new wave of speculations regarding the Greece help issue pressured the euro. Some of the Financial Ministers of Europe excluded the possibility to render support to Greece, which was released on Monday.
And the EUR/USD pair decreased to the level of $1.3650.
US Dollar: Against the background of the data from Europe, the US dollar rate increased. The American dollar received additional support from the released US fundamentals on Monday. In particular, the Empire Manufacturing index for Mach turned out to be above the forecast: its factual level of 22.86 against the expectations of 22.00. The volume of the industrial production for February grew for 0.1%.
British Pound: The sterling was under pressure due to the current political situation in England. According to the published information, the upcoming elections in Great Britain would probably result in the absence of the necessary majority votes in the Parliament. In addition, the rating agency Moody's confirmed, that the credit rating of Great Britain could be decreased.
And the GBP/USD pair demonstrated its trading day minimum in the range of $1.5020.
Japanese Yen: The USD/JPY pair traded in the range of Y90.80.
Oil: The oil rate demonstrated a negative dynamics. Its minimum was set in the range of $79.45 per barrel.