Forex-Metal Daily Analysis - 12/08/2011


Master Trader
Jul 12, 2010
Risk appetites dropped.

Asian and European trading sessions:

Euro: The EUR/USD pair strengthened in the area of $1.4232 area and returned to session low of $1.4131.
US Dollar: The dollar retreated against major currencies amid growing futures on major US stock indices. Risk appetites dropped.
British Pound: The GBP/USD strengthened in the area of $1.6200 and stabilized in the mid-day range of $ 1.6111-$1.6202.
Japanese Yen: The Yen showed a maximum at Y77.20 against the US Dollar and then retreated and stabilized in Y76.65 range. The yen was supported by the drop in the stock indices and high-yielding currencies.
Swiss Franc: Concerns about the fact that the Swiss National Bank would "substantially increase" liquidity reserves and increase deposits in order to prevent the national currency’s growth, caused increased pressure on the Swiss franc during both sessions.
Australian Dollar: After the publication of the unemployment rate report in Australia, which showed increase to the level of 5.1% in July versus the June level and expectations for 4.9%, the Australian Dollar fell against the US Dollar and the New Zealand dollar.

American trading session:
Euro: Euro dropped against the US dollar amid growing concerns of the debt crisis in the EU and the strong dollar due to falling of stock markets.