The single currency suffered losses against the US dollar today. The EURO dropped by more than 1% against the Dollar which was the biggest one day drop down observed in the currency since November. The main cause for this drop down were concerns of Greece being forced to restructure its debt. During the session the EURO reached as low as 1.4157 and during the last few hours it appears to be demonstrating some corrective behavior from its continuous drop that started from the mid hours of the Asian session. A spike high at 1.4349 was observed following announcements the US credit rating could be downgraded by FITCH. The EURUSD is currently traded at 1.4234.
During today’s US session the sterling recorded some losses against the American greenback ending around 10 pips lower than the 1.6273 opening level. At around 14:00 a spike high value of 1.6334 was recorded following the announcement that USA could lose its AAA rating by the FITCH credit ratings agency that caused fears of the USD dropping and hence the initial market response was to hold short positions against the USD. However this response was only temporary as the USD losses were more than covered within the next hour where a low of 1.6165 was recorded from which the GBP has been recovering from.
The Swiss Franc recorded some gains against the US dollar but were not substantial. Just like all the other major currencies against the USD the Swiss Franc made an astonishing 50 pips gain following the possible downgrading of USA by FITCH that were later capped within the next hour. Nevertheless some downwards movement later allowed the Franc to make some gains as the session ended 8 pips lowers than what it had opened.
Unlike all the other major currencies that made big gains, even for a while, following the possible downgrading of the USA the Canadian Dollar failed to do so. At the point of announcement the CAD made only 25 pips while at 16:00GMT the USD was as high as 0.9721. Over the last few hours the USD appears to be demonstrating a downwards movement.
Gold continued to rise today reaching a new all time high at 1497.54. The continues unrests and uncertainties from the Eurozone debt situation, restructuring of Greek debt as well as the massive USA government economic deficit have triggered the precious metal’s safe haven nature. Gold is currently traded at 1495.91.
| EURUSD | USDJPY | GBPUSD | USDCHF | USDCAD | GOLD | |
| OPEN
(12:00 GMT) |
1.4295 | 82.79 | 1.6273 | 0.8972 | 0.9639 | 1480.76 |
| DAY’S HIGH | 1.4349 | 82.95 | 1.6334 | 0.8999 | 0.9721 | 1497.54 |
| DAY’S LOW | 1.4157 | 82.18 | 1.6165 | 0.8908 | 0.9618 | 1477.34 |
| CLOSE
(21:00 GMT) |
1.4231 | 82.69 | 1.6263 | 0.8964 | 0.9641 | 1496.05 |
By clicking “Continue”, you agree to the default cookie settings on our website.
Trading Point uses cookies to ensure that we provide you with the best experience while visiting our website. Some of the cookies are needed to provide essential features, such as login sessions, and cannot be disabled. Other cookies help us improve our website’s performance and your experience through personalising content, providing social media features and analysing our traffic. Such cookies may also include third-party cookies, which might track your use of our website. You may change your cookie settings at any time.
Read more, or change your cookie settings.
What are Cookies?
Cookies are small data files. When you visit a website, the website sends the cookie to your computer. Your computer stores it in a file located inside your web browser.
Cookies do not transfer viruses or malware to your computer. Because the data in a cookie does not change when it travels back and forth, it has no way to affect how your computer runs, but they act more like logs (i.e. they record user activity and remember stateful information) and they get updated every time you visit a website.
We may obtain information about you by accessing cookies, sent by our website. Different types of cookies keep track of different activities. For example, session cookies are used only when a person is actively navigating a website. Once you leave the website, the session cookie disappears.
Why are cookies useful?
We use functional cookies to analyse how visitors use our website, as well as track and improve our website’s performance and function. This allows us to provide a high-quality customer experience by quickly identifying and fixing any issues that may arise. For example, we might use cookies to keep track of which website pages are most popular and which method of linking between website pages is most effective. The latter also helps us to track if you were referred to us by another website and improve our future advertising campaigns.
Another use of cookies is to store your log in sessions, meaning that when you log in to the Members Area to deposit funds, a "session cookie" is set so that the website remembers that you have already logged in. If the website did not set this cookie, you will be asked for your login and password on each new page as you progress through the funding process.
In addition, functional cookies, for example, are used to allow us to remember your preferences and identify you as a user, ensure your information is secure and operate more reliably and efficiently. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences, such as which language you wish to see when you log in.
Here is an overview of some of the functions our cookies provide us with:
This website uses Google Analytics, a web analytics service provided by Google, Inc. ("Google"). Google Analytics uses analytical cookies placed on your computer, to help the website analyze a user's use of the website. The information generated by the cookie about your use of the website (including your IP address) may be transmitted to and stored by Google on their servers. Google may use this information to evaluate your use of the website, to compile reports on website activity and to provide other services related to website activity and internet usage. Google may also transfer this information to third parties, where required to do so by law, or where such third parties process the information on behalf of Google. Google will not associate your IP address with any other data held. By using this website, you give your consent to Google to process data about you in the manner and for the purposes set out above.
Change Settings
Please select which types of cookies you want to be stored on your device.
We are using cookies to give you the best experience on our website.
Read more or change your cookie settings.