Forex-Metal Daily Analysis -03/02/2012

Forex-Metal

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Jul 12, 2010
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The negotiations regarding the Greek debt with investors are passing very hard.


Asian and European trading sessions:

Euro: The euro continued to strengthen against the dollar during the Asian trading session after German Chancellor Angela Merkel stated that Europe should be united in protecting the stability of the euro currency. The EUR / USD pair recorded its daily high at the $1.3194 level. Positive dynamics for the euro were also supported by the results of the auction of government bonds of France and Spain, where the demand for French bonds was pretty much high. However, at the European session the euro currency suffered by dropping to $1.3085 lows after the head of the Euro group Mr. Junker noticed that negotiations regarding the Greek debt with investors are passing very hard.


US Dollar: Dollar weakened against almost all of its 16 competitors, against the background of rising the Asian market indices and stocks.


American trading session:

US Dollar: Support for the dollar had a report which showed reduction in continuing claims. Also, the number of initial claims in U.S. for the week ended Jan. 28 fell by 12,000 - to 367,000.

Oil: Today, the March’s WTI (Light Sweet Crude Oil) futures grew to 95.45 point dollars per barrel and closed at $96.48 mark.

Gold: The cost of February’s Gold futures on COMEX grew today to 1756.03 dollars for the ounce.

Swiss Franc: The Swiss Franc weakened against most of major currencies on the background of rumours about the possible intervention of the Swiss National Bank due to the growth of its national currency.

Japanese Yen: The yen rose against the dollar from the Y76.01 support level showing that the investors and trades are aware of possible intervention of Central Bank of Japan.

Australian and New Zealand dollars: The appetite of investors and traders for high-yield assets as well as the growing of the Asian stock markets were provided support for the Australian and New Zealand dollars positive trading dynamics.
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