Forex

The demand for safe assets was damped today; therefore, the dollar and the yen traded lower against

Asian and European trading sessions:

Euro: For the first time in two weeks, the EUR / USD pair rose above $ 1.30, as the index of sentiment in the business environment in Germany rose more than economists’ forecasts. So, the survey conducted by the ZEW Center for European Economic Research, revealed that index of investor and analyst expectations, which aims to predict economic development for the six months rose to -11.5 from -18.2 levels in September and was much higher than forecasts of -14.9. Also, the speculation that Spain would very soon apply for financial assistance supported euro today’s strong uptrend against all its rivals. The EUR / USD pair grown on a figure from the beginning of the day and was able to reach the level of $ 1.3018 at the European session.

U.S. Dollar: The dollar fell against most of its major competitors, ahead of the reports of the U.S. consumer price index and industrial production, which were expected to grow. The demand for safe assets was damped today; therefore, the dollar index which measures the ratio of U.S. dollar against the basket of six major traded currencies fell by 0.3% to 79.506.

British Pound: The pound was supported today by the factor of strong correlation with the trading dynamics of the euro currency. The GBP / USD pair strengthened to $ 1.6107 area during the European session, even despite of the weak results of the inflation report in the UK, which showed the lowest levels in nearly three years. The consumer prices in the UK rose in September by 2.2 % compared to the previous year, and an increased by 0.3% to 2.5 % compared to August’s values.

Japanese Yen: The USD / JPY pair rose to Y78.92: during the European session, updating its monthly high. The yen fell against most major currencies, amid rising Asian and European stock markets and expectations of today's publication of data on the U.S. economy.

New Zealand dollar: The Consumer Price Index New Zealand in the third quarter increased by only 0.8 % compared with a year earlier and recorded the lowest annual inflation rate for the last 12 years. It was the reason why the New Zealand dollar fell against the U.S. dollar and other traded currencies today.

American trading session:

Euro: The euro grew on increased expectations that Spain will soon file an application for the financial aid, after German lawmakers said that they do not refuse providing the preventative credit line for Spain. As it was reported, Germany after agreeing to make concessions on confrontation of the idea of ??a full-scale active rescue for troubled country is now ready to approve an allocation of preventative credit line for Spain provided from the European Stability Mechanism (ESM). The only one negative factor that limited taking large long position on the euro currency was the information that the rating agency S & P downgraded rating of 15 Spanish banks as well as Spanish region of Barcelona in one step from 'BBB +' to 'BBB-', maintaining a negative outlook.

U.S Dollar: After data showed that industrial production in the U.S. rose more than expected in the last month increasing by 0.4% with an average forecast growth of 0.2% the dollar fell against most major currencies.

Canadian dollar: The Canadian dollar fell against most major currencies after the head of the Bank of Canada Governor Mr. Carney said in his speech that he could reduce the country’s economic outlook and delay in raising interest rates.

Gold: The Gold prices substantially grew today on weak dollar and the rising of the equity markets around the World. The October futures price of gold rose by $ 9.50 and recorded a high at the $1747.40 per troy ounce on COMEX.

Oil: The November futures prices of WTI traded within $91.32 - $92.32 levels on the NYMEX showing flat range trading dynamics.