New York: 04:46 || London: 09:46 || Mumbai: 13:16 || Singapore: 15:46


The Australian dollar showed a two-day growth after publishing a report on China's trade surplus

December 10, 2013, Tuesday, 09:34 GMT | 04:34 EST | 14:04 IST | 16:34 SGT
Contributed by Forex-Metal

Asian and European trading sessions:

Euro: The euro rose slightly against its competitors, which was helped by positive data on the balance of payments in Germany. As it became known, the surplus of the current account balance Germany in October did not fell as much as it was expected. It declined to €19.1 billion against revised €20.0 billion in September. It's also was more than economists forecasts on €16.8 billion. Nevertheless, the positive part of this was offset by other data, which showed that the trade surplus with adjustments for seasonal and calendar factors in October fell to €16.8 billion compared with €18.7 billion in September. It was also less than economists’ forecasts on €17.4 billion.

Japanese Yen: The yen traded cautiously against the dollar, despite the fact that the published figures were worse than expected. Report from the Cabinet Office showed that the Japanese economy in the third quarter increased by 0.3 %. According to preliminary data, the growth was at 0.5%. The capital investments were lower than the original estimate, due to weak foreign demand. Compared with the first half of the year growth has slowed considerably - when he was about 4.0 %, which overtook the U.S. growth. The USD / JPY pair traded in a narrow range of Y102.85-Y103.35 during the European session.

Australian dollar: The Australian dollar showed a two-day growth after publishing a report on China's trade surplus. It turned out that in the past month, the trade surplus of China has increased to the maximum value of more than four years. This means that global demand helped to maintain the recovery of the second largest economy in the world. The data from the General Administration of Customs in Beijing revealed that the surplus of 33.8 billion dollars grew because the exports grew by 12.7 % compared with a year earlier , while imports gained 5.3%.

American trading session:

Euro: It should also be noted that the euro reacted very weak on the report on industrial production, which showed a decrease in volume by 1.2 % in October, although the growth by 0.8% was expected. The EUR / USD pair rose to $ 1.37230 during the European session.

Gold: The gold prices rise on recovery in stock markets and investor uncertainty in continuation of U.S. Fed incentives. The December gold futures rose to $ 1238.70 per ounce on the COMEX today.

Oil: The Brent oil price fell after a report showed that industrial production in Germany fell, increasing concern about the state of Europe's largest economy. The spread between Brent and WTI declined for the fourth time in five days. The price of January futures on U.S. light crude oil WTI (Light Sweet Crude Oil) traded in a range of $ 97.31 - $ 97.97 per barrel on the New York Mercantile Exchange.