Forex

The British Pound fell on weak the Housing Survey reports

Asian and European trading sessions:

Euro: During the Asian session the euro approached to a two-week low of 1.2914 against the dollar ahead of the meeting of prime ministers of Italy and Spain, which will discuss a plan to rescue the region. The pressure on the currency occurred also after publication of the report on retail sales in Spain which fell 11 % in September, compared with last year. The EUR / USD pair continued setting new lows falling to $ 1.2984 not even reacting on result of the German CPI report, which was slightly above analytics’ forecasts.

British Pound: The GBP / USD pair significantly dropped to $ 1.6030 during the European session. There were quite a lot of reports on performances of the British economy today and after their publications the pound decided to weaken against its rivals. It fell against dollar on the house prices report, the result of which dropped in England and Wales in October, noting the fourth consecutive decline. The house prices fell by 0.1 % in September and 0.4% from a year earlier. The currency did not even try to recover after data showed that the number of mortgages approvals rose to 50,000 last month from 47,700 in August.

Japanese Yen: The yen continued to be in demand today and remain high against the U.S. dollar after the rapid strengthening of Friday. The demand for safe haven assets increased today as the reaction on continuation of weakness of the world economy. The Bank of Japan will have a meeting tomorrow where a Japanese program to stimulate the economy would be considered. The USD / JPY pair after trading in the range of Y79.61- 74 fell to the lows of the Y79.52

Australian and New Zealand dollar:

Due to the uncertainty about the outcome of the U.S. presidential election, which in turn undermined demand for higher-yielding assets the Australian and New Zealand dollar weakened against most major currencies today.

American trading session:

Today there was no trading in the U.S. exchanges as NYSE, NASDAQ OMX Group and BATS because of impending Northeast U.S. hurricane named "Sandy" , which put the New York city in a state of emergency.

Euro: The euro weakened during the session after German Finance Minister Wolfgang Schaeuble rejected the restructuring of Greek debt. European policymakers were waiting for the report, which will show the progress of Greece in achieving the internationally agreed development goals, which were developed by the European Commission, the International Monetary Fund and the ECB.

U.S. Dollar: The dollar strengthened against the background of increased demand for safe assets. The dollar index grew to 80.4 levels. The U.S. reports were slightly positive: the index of U.S. personal spending rose by 1.7 % y / y in line with expectations and the personal income rose 0.4 % in September, coinciding forecasts while personal expenses grew by 0.8 % exceeding the expectations.

Gold: December futures price of gold today fell today to 1705.70 dollars per ounce on COMEX due to concerns about Greece and the lack of guidance on when Spain is planning to apply for financial aid.

Oil: December futures price of WTI sharply fell to 84.67 dollars per barrel on the fact that U.S. East Coast community plants reduced their consumption in anticipation of the hurricane "Sandy."