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Forex-Metal Daily Analysis -13/05/2011
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[QUOTE="Forex-Metal, post: 19119, member: 5723"] Drop of the euro and the pound. Asian and European trading sessions: Euro: Thursday saw a considerable drop of the euro during the European trading session. The EUR/USD pair traded below the $1.4150 minimums. Stock markets decreased, which pressured the high-yielding assets. In addition, the Euro-zone statistics demonstrated negative Industrial production level, which turned out to be below the forecasts. US Dollar: Morning trading demonstrated some increase of the greenback rate. But later the US dollar dropped. British Pound: Following the euro, the sterling dropped to $1.6250 minimums. Release of the negative UK fundamentals pressured the sterling. Industrial production for March turned out to be 0.3% against its expectations of 0.8%. Manufacturing production for March was 0.2% against its forecasts of 0.3%. Japanese Yen: Japanese yen strengthened due to the dropped demand for the risky assets. Oil: Oil showed some increase during the daily trading and reached the $100.10 level per barrel. American trading session: US Dollar: The publication of the US fundamentals during the American trading session did not render any support to the greenback. Initial jobless claims increased for 434K against the forecasted 430K. Euro: Against the background of the weakening American dollar, greenback competitors managed to win back their previously lost positions. The EUR/USD pair grew and reached the $1.4250 level. British Pound: The GBP/USD pair grew and reached the $1.63 mark. [url]https://forex-metal.com/news_posts[/url] [/QUOTE]
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