Forex

The strong U.S. dollar was able to regain previously won positions

Asian and European trading sessions:

Euro: The EUR / USD pair fell to $ 1.2893 during the Asian session. The position of the Prime Minister of Spain, Mariano Raho, who made ??it clear that the country, as of now, is not going to ask the European Union for help, provided the pressure on the euro. Most of market participants are eagerly waiting for the Spanish government request of financial support from the European Union, as it will allow the European Central Bank to start buying bonds of Spain. During the following session, the euro rose against its competitors, as the reports for business activity showed that the index in the services sector and retail sales unexpectedly rose and exceeded analysts' expectations. The result of the report of Eurozone retail sales also came out positive and recorded lower than it was forecasted decrease of 1.3% instead of 1.9%. The EUR / USD pair rose to $ 1.2935, but was unable to hold this level and it fell to $ 1.2905area.

U.S. Dollar: The dollar index was able to regain previously won positions and almost recovered, after falling by 0.2 % over the past two days. The index strengthened almost to its recent high of 80.22 touching meanwhile the 80.06 area.

Japanese Yen: The USD / JPY pair dropped to Y78.31during the Asian. Ahead of a meeting of the Bank of Japan, which will be held tomorrow, the yen continued its three-day decrease against almost all traded currencies.

Australian dollar: On the background of released statistics that recorded that Australia's trade deficit in August was more than expected and reached 2.027 billion of Australian dollars the Australian dollar fell against its counterparts. The expectations of the results were 685 million and the previous July’s report showed 1.530 billion of Australian dollars.

American trading session:

U.S. Dollar: Despite of positive results of the U.S. ADP Employment Change report which showed an increase in employment in the U.S. in September by 162K and exceeded economists' forecasts the dollar rose against most major currencies. Moreover the report for Non-Manufacturing Composite ISM, which unexpectedly accelerated and showed a growth of services of last month, could not change investors’ appetite for safe-haven assets relied on the global slowdown of economic growth.

Gold: The Gold was supported today by speculations that central banks will continue to stimulate the monetary program to support economic growth which in turn will boost demand for the precious metal as a hedge against inflation. The Gold futures for October traded near the $ 1780 USD per troy on the COMEX today.

Oil: On the strong dollar which rose along with the increase of demand for safe haven assets as well as remained concerns of investors about a possible reduction in demand for crude oil, the November WTI futures fell to $87.80 per barrel which confirmed 3.20 % negative change. The Oil prices fell even despite the report of U.S. Department of Energy of reduced amount of Oil in stocks.