Forex

The Bank of Japan expanded the program of buying up assets by 11 trillion yen, however, many invest

Asian and European trading sessions:

Euro: The EUR / USD pair was trading around between $ 1.2898 -$1.2916 levels during the Asian session. The euro firstly dropped on concerns about the situation in the United States. Than it grew being supported by the data showed that the number of unemployed in Germany rose in September more than expected and reached 20,000 people which confirmed a two time change. The unemployment rate was in line with forecasts and compared to the previous month at 6.9%. The EUR / USD pair showed a rapid growth during the European session strengthening to the area of $1.2975.

British Pound: The GBP / USD stopped it yesterday correction finding support at the level of $ 1.6030. Accordingly report of the Confederation of British Industry the index of reported sales has increased significantly in October and reached a level of 30, compared with a value of 6 in the last month. The news supported the pound sterling and it rose against the dollar to the $ 1.6080 area.

Japanese Yen: After the disappointing results of the meeting of the Bank of Japan, where the key interest rates was left unchanged - at the level of 0,0-0,1 %, the yen strengthened against the U.S. dollar. The Central Bank announced the expanding of the program of buying up assets by increasing it by 11 trillion yen (160 billion dollars) - up to 91 trillion yen. This decision was predicted by most economic analysts; however, many investors were expecting more aggressive actions. The USD / JPY pair fell to Y79.27 during announce of the Central bank decision.

Canadian dollar: The Canadian dollar rose after getting parity with the U.S. dollar, which was the first time since August, as the appetite for risk among investors has declined. The currency tried go even move higher after the published data which showed that the raw materials prices and the prices of industrial products rose more than analysts had forecasted.

American trading session:

Euro: The euro strengthened after a report showed that the Spanish economy in the third quarter contracted less than it was forecasted by the central bank. The consumer confidence of the eurozone has improved slightly, but still remained weak. Italy sold its 5 - and 10- year bonds at a lower yield. The EUR / USD pair strengthened to $ 1.2983 during the session.

U.S. Dollar: Amid speculations that the damage from tropical cyclone Sandy will be less severe than it was previously expected the dollar showed the maximum decline against all major currencies. The issue leaded to a damping demand for safe assets. Also, the U.S. currency fell on raising U.S. futures markets. Residential property prices in the U.S. rose in August, shoeing the most growth in two years, which was a sign that the housing market will continue to stimulate economic growth. As it was shown by the data released today, the index of home prices in 20 major cities S & P / Case-Shiller rose by 2 % compared with year ago, and confirmed the biggest gain since July 2010, after rising 1.2% in July, while analysts expected a little more modest growth of 1.9 %.

Gold: The Gold became slightly more expensive due to the weak dollar. December futures price of gold rose today to 1714.96 dollars per ounce.

Oil: The oil prices on speculations that a demand for Oil will be back soon after the hurricane Sandy hit the U.S. East Coast rebounded from four-month lows at the American trading session. December futures price of U.S. light crude oil, WTI rose to 86.22 dollars a barrel, however, closed at $85.65 on the New York Mercantile Exchange.