Forex

The U.S. dollar continued to decline amidst the reduced demand the “safe haven” assets.

By Forex-Metal

Asian and European trading sessions:

Euro: The Euro currency continued to strengthen against major currencies amidst the positive results of auctions of Spain and France governments bonds. The auction of Spain government bonds showed that 6.6 billion euro was attracted with targeted 3.5-4.5 billion euro. France also attracted more than was expected, 7,965 billion against the target 6.5-8.0 billion euro. Supported the euro currency today also 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 . The EUR / USD pair showed its high hitting $ 1.2916 level during the European trading session.

US Dollar: The American dollar continued to decline against its major competitors amid signs of U.S. economic recovery and rising stock prices of Asian companies. At the European session, the pressure on the currency came also from reduced demand on safe haven assets and positive dynamics in the European stock markets and growth of U.S indices futures.

British Pound: The GBP/USD pair traded today in uptrend range of $1.5414- $1.5450 during both sessions and recorded its European trading session’s maximum by reaching several times the level of $1.5457.

Australian dollar: The Australian dollar fell today during the Asian trading session, under pressure from weak data on employment in Australia. The employment report in Australia showed job losses of 29 300 in December 2011. This news did not support the analysts’ forecasts of growth in jobs positions for that period of time.

American trading session:

Oil: The Oil prices were rising against the background of declining inventories of Crude Oil in U.S. The cost of February’s WTI futures rose to 102.06 dollars per barrel, before the steeply intraday sell off to $100 support level.

Gold: The Gold prices rose, because of the weak dollar. Their today’s high was recorded at $1669.09 per ounce.