Market review for 19.05.2011: Greenback drops with the release of the weak US data.
Asian and European trading sessions:
Euro: The EUR/USD pair traded in the range of $1,4202-$1,4300 during the morning trading today.
US Dollar: Greenback demonstrated stable trading today until the American trading session.
British Pound: Sterling received considerable support against the euro and the US dollar after the release of the strong UK fundamentals. The published today UK Retail sales turned out to be much higher expectations. Retail sales inc auto fuel for April demonstrated the level of 1.1% against the forecasted 0.8% and previous month’s 0.3%.
Swiss Frank: The Swiss frank was under pressure after the release of the ZEW Survey for May, which showed unexpected decrease to - 11.5.
Japanese Yen: Japanese yen dropped today after the release of the Annualized Gross Domestic Product for the first quarter, which decreased for 3.7% against the forecasted drop for only 1.9%. Japanese industry and consumer expenses were pressured as a result of the earth-quake and tsunami.
The USD/JPY pair grew and reached the Y81.95 mark.
Oil: Oil prices showed some growth on Thursday and traded around the $100.56 range per barrel.
Gold: Gold traded at the $1491.00 level per ounce.
American trading session:
US Dollar: The American trading session showed changes in the trading dynamics of the major currency pairs. The release of the weak US fundamentals pressured the US dollar. Existing home sales decreased in April when the forecast showed increase, Philadelphia Federal index dropped below expectations. Under this negative influence even the drop of the Initial jobless claims could not support the greenback.
Therefore, the EUR/USD grew above the $1.4300 mark and the GBP/USD demonstrated maximums above the $1.6200 level.
https://forex-metal.com/news_posts
Asian and European trading sessions:
Euro: The EUR/USD pair traded in the range of $1,4202-$1,4300 during the morning trading today.
US Dollar: Greenback demonstrated stable trading today until the American trading session.
British Pound: Sterling received considerable support against the euro and the US dollar after the release of the strong UK fundamentals. The published today UK Retail sales turned out to be much higher expectations. Retail sales inc auto fuel for April demonstrated the level of 1.1% against the forecasted 0.8% and previous month’s 0.3%.
Swiss Frank: The Swiss frank was under pressure after the release of the ZEW Survey for May, which showed unexpected decrease to - 11.5.
Japanese Yen: Japanese yen dropped today after the release of the Annualized Gross Domestic Product for the first quarter, which decreased for 3.7% against the forecasted drop for only 1.9%. Japanese industry and consumer expenses were pressured as a result of the earth-quake and tsunami.
The USD/JPY pair grew and reached the Y81.95 mark.
Oil: Oil prices showed some growth on Thursday and traded around the $100.56 range per barrel.
Gold: Gold traded at the $1491.00 level per ounce.
American trading session:
US Dollar: The American trading session showed changes in the trading dynamics of the major currency pairs. The release of the weak US fundamentals pressured the US dollar. Existing home sales decreased in April when the forecast showed increase, Philadelphia Federal index dropped below expectations. Under this negative influence even the drop of the Initial jobless claims could not support the greenback.
Therefore, the EUR/USD grew above the $1.4300 mark and the GBP/USD demonstrated maximums above the $1.6200 level.
https://forex-metal.com/news_posts