Forex

The Yen strengthened on increased demand for safe-haven assets

Asian and European trading sessions:

Euro: On the background of concerns about world economic recession as well as euro zone 's financial system the euro fell today for third day in a row. In addition, the came under pressure also on fact that Spain is still in no hurry for asking for financial aid that delays implementation of the new European Central Bank’s plan of the purchasing of bonds. The EUR / USD pair during fell to $ 1.2834 the Asian session, updating the week low. The announce of the upcoming meeting of Mr.Hollande and Mr. Raho and publication of the Beige Book brought some positive to euro’s trfing dynamics and currency grew against the dollar recovering from this morning loss.

British Pound: The GBP / USD pair after testing the previous day's low of $ 1.5975 during the Asian session was able to grow today. Today, at the annual conference of the Conservative Party, the Prime Minister David Cameron stated that the recovery of the Britain economy will be longer than expected. He also noted that the reduction in interest rates is the main tool for improving the picture on the labor market and the reduction of the deficit will be a key aspect for stimulating of the growth. The GBP / USD pair rose to level of $ 1.6019 at the European session.

Japanese Yen: Against the increased demand for safe-haven assets, the yen rose against most major currencies. The USD / JPY pair during the Asian session reached the level ofY78.15.

American trading session:

British Pound: The GBP / USD pair strengthened to the highs of $ 1.6032 during the session after the National Institute of Economic and Social Research reported the GDP estimate for the UK economy expanded in the third quarter by 0.8%, registering with the highest rates growth over the past five years.

Canadian dollar: The concerns about slowing of the growth of Chinese economy pressured the loonie today. The Canadian dollar fell against most of traded currencies against the fact that the issue will have a negative impact on demand for commodities such as oil, the one of the products of Canadian export.

Australian dollar: The Australian dollar rose today for the third day in a row after the country sold its thirty years, most long-term debt securities, thus increased demand for the country’s investing assets.

Gold: October futures price of gold slightly fell today 05.02 today closing on COMEX at $ 1762.89 per troy ounce.

Oil: The Oil prices updated today this week high due to fears that the rising tensions in the Middle East could cause disruptions in the supply of the product. The WTI futures strengthened to $93.64 per barrel, however, expectations of increasing of U.S. oil reserves in tomorrow’s report put pressure on trading dynamics of the asset and it fell to the $91.02 area.