Forex-Metal Daily Analysis - 19/08/2011

Forex-Metal

Master Trader
Jul 12, 2010
428
0
52
Greenback wins back its previous losses.

Asian and European trading sessions:
Euro: EUR/USD showed maximums at the $1.4450 level, but decreased to the minimums of $1.43 later during the day.
US Dollar: The US dollar strengthened its positions against the majority currencies amid weakening of the stock indices.
British Pound: The GBP/USD pair traded at the level of $1.6500, then dropped below this level after retail sales report, which reinforced the fears that the British economy was losing its momentum.

The sterling was pressured by the decreased UK Retail sales indicators, which dropped below expectations. Nevertheless, the GBP/USD did not drop below the $1.6500 level.

Japanese Yen: After consolidating at Y76.60 area, the USD/JPY continued trading at the Y76.55-Y76.75 range.
Swiss Franc: Frank fell on speculations about what measures the Swiss National Bank would continue to undertake directed to restraint the growth of the national currency.

Gold: Gold updated its historical maximum, reaching a $1822.00 mark per ounce

American trading session:
US Dollar: The negative release of the published US fundamentals increased the demand for the save-heaven assets. Initial jobless claims increased, the Philadelphia Fed index dropped below forecasts.