Forex

The release of the negative US fundamentals changes the market dynamics.

By Forex Metal

Asian and European trading sessions:

Euro: Concerns over the Euro-zone rehabilitation rate slow-down pressured the euro on Thursday. In particular, the social tensions in Greece, as an outcome of the rigid economy measures, created additional negative influence over the Euro-zone outlook. According to the experts’ forecasts, the unemployment rate in Greece will show growth. The EUR/USD rate decreased to the $1.2800 level.

British Pound: The sterling dropped against the US dollar and reached the $1,5510 mark.

Japanese Yen: Speculations regarding the possibility, that Japanese Government would undertake measures aimed to weaken the national currency, pressured the yen. The USD/JPY rate increased to the range of Y85,80.

Gold: The gold metal dropped to $1229.28 after the reached maximums. The gold price was pressured by the growing concerns over the social tension in Greece.

American trading session:

US Dollar: The greenback managed to rehabilitate as the demand for the risky assets dropped. This was a result of the US negative fundamentals release. The initial jobless claims grew and reached 500K against the forecasted 478K. The Philadelphia Federal index for August decreased to -7.7 against the expected 7.0 and previous level of 5.1.