A quite volatility day for the greenback due to the published reports.
Asian and European trading sessions:
Euro: The EUR / USD pair traded in a narrow range between $1.3110 and $1.3130 levels during the Asian trading session. On the European session, the euro fell against of its competitors amid the information which revealed that the Greek government postponed the plan of recapitalization of the Greek Banks. The published forecasts that showed that the German’s economy would demonstrate an increase by 0.9% versus with previous 0.8% for this year could not prevent the Euro currency of falling down. The EUR / USD pair fell to the area of $1.3072.Today’s results of auctions had better than expected outcome; the Spain attracted 2,541 euros with the planned 1.5-2.5 billion euros, the France placed 7,973 billion euros versus 7-8 billion euros planned. However, these results had no positive impact on the currency’s trading dynamics, yet provided some support at the $1.3070 level for the EUR / USD couple.
British Pound: The British currency traded flat today two times bouncing from $1.610-$1.6020 area for the GBP/USD pair. The currency was supported by the yesterday’s good reports on the protocols of last meeting of the Bank of England which was dedicated to monetary policy and showed that the likelihood of further stimulating the economy decreased. Also, the support for the British pound had a report of labor market, which recorded better than expected results; the Claimant Count rate in March fell to 4.9 % from 5.0% and the unemployment rate of February dropped to 8.3 % from 8.4 %.
Japanese Yen: The USD / JPY couple rose into the region of Y81, 72 on the statements of the Bank of Japan's representatives who mentioned the Bank’s readiness to change its monetary policy for maintaining the economic growth. However, the publication of the report on trade deficit for the last month provided support for the Yen. The trade deficit in March recorded the value of 82.6 billion yen compared with 29.4 billion yen in the previous month. The pair pulled back to the level of Y81.4.
American trading session:
US Dollar: The U.S. dollar’s trading dynamics were dependable on the published today reports. Thus, the Exciting Home sales declined in March by 2.6 % to 4.48 million and were significantly worse than the forecasts of analysts, who projected growth in sales to 4.6 million. The Initial Job Claims also showed an increase and were up to 386,000 versus economy experts’ predictions of decrease by14, 000. It was a quite volatility session for the greenback.
Oil: May’s futures of WTI kept the range 101.63 - 103.19 dollars per barrel on the NYMEX today.
Gold: May futures on the COMEX for gold today rose to $ 1653.3 per troy ounce. The demand for the physical Gold is still weak. The main consumers of this precious metal - India and China are not showing their interest, this fact is keeping the gold investors in waiting position. As for the technical prospects, the price of gold remains strong as it did not exceed the level recorded at the beginning of the year.
Asian and European trading sessions:
Euro: The EUR / USD pair traded in a narrow range between $1.3110 and $1.3130 levels during the Asian trading session. On the European session, the euro fell against of its competitors amid the information which revealed that the Greek government postponed the plan of recapitalization of the Greek Banks. The published forecasts that showed that the German’s economy would demonstrate an increase by 0.9% versus with previous 0.8% for this year could not prevent the Euro currency of falling down. The EUR / USD pair fell to the area of $1.3072.Today’s results of auctions had better than expected outcome; the Spain attracted 2,541 euros with the planned 1.5-2.5 billion euros, the France placed 7,973 billion euros versus 7-8 billion euros planned. However, these results had no positive impact on the currency’s trading dynamics, yet provided some support at the $1.3070 level for the EUR / USD couple.
British Pound: The British currency traded flat today two times bouncing from $1.610-$1.6020 area for the GBP/USD pair. The currency was supported by the yesterday’s good reports on the protocols of last meeting of the Bank of England which was dedicated to monetary policy and showed that the likelihood of further stimulating the economy decreased. Also, the support for the British pound had a report of labor market, which recorded better than expected results; the Claimant Count rate in March fell to 4.9 % from 5.0% and the unemployment rate of February dropped to 8.3 % from 8.4 %.
Japanese Yen: The USD / JPY couple rose into the region of Y81, 72 on the statements of the Bank of Japan's representatives who mentioned the Bank’s readiness to change its monetary policy for maintaining the economic growth. However, the publication of the report on trade deficit for the last month provided support for the Yen. The trade deficit in March recorded the value of 82.6 billion yen compared with 29.4 billion yen in the previous month. The pair pulled back to the level of Y81.4.
American trading session:
US Dollar: The U.S. dollar’s trading dynamics were dependable on the published today reports. Thus, the Exciting Home sales declined in March by 2.6 % to 4.48 million and were significantly worse than the forecasts of analysts, who projected growth in sales to 4.6 million. The Initial Job Claims also showed an increase and were up to 386,000 versus economy experts’ predictions of decrease by14, 000. It was a quite volatility session for the greenback.
Oil: May’s futures of WTI kept the range 101.63 - 103.19 dollars per barrel on the NYMEX today.
Gold: May futures on the COMEX for gold today rose to $ 1653.3 per troy ounce. The demand for the physical Gold is still weak. The main consumers of this precious metal - India and China are not showing their interest, this fact is keeping the gold investors in waiting position. As for the technical prospects, the price of gold remains strong as it did not exceed the level recorded at the beginning of the year.