Forex

The Asian financial markets celebrated a New Year.

By Forex-Metal

Asian and European trading sessions:

Euro: The euro fell at the beginning of the Asian trading session amid continuing disagreement in the negotiations on restructuring the debt of the Greece. The EUR/USD pair dropped to its daily low of $1.2875, but then recovered to $1.2902 and continued traded mostly around $1.2890 level where finally found its support. Coming later, the European session provided positive trend dynamics for the Euro currency and the EUR / USD couple updated its two week high of $1.3045 level. All these dynamics were amidst the background of speculations that the heads of the European countries at a coming meeting in Brussels will take decisive actions to address the debt crisis in the region. One of the main topics of the meeting will be the situation in Greece. Supported the euro currency today also the other market speculations of the positive results of the ongoing negotiations about making attempts to force the Greek private lenders such as banks, insurance companies and hedge funds to agree to cancel 50% of the country's debt in their holding.

British Pound: The GBP/USD pair traded today in the range of $1.5514- $1.5601.

American trading session:

Oil: The WTI oil futures on the NYMEX increased by 1.4% to $100.2.

Gold: The Gold prices were stable today and rose to 1680.8 dollars per ounce. Today, in observance of New Year according to lunar calendar, the financial markets in China, Hong Kong, Singapore, South Korea, and Taiwan were closed.