Thursday was a day of turbulences and high volatility for the EURUSD pair, as initially the pair plummeted to a four days low of 1.4052 on Standard and Poor’s downgrading of Portugal’s credit rating by two notches with further slashing in the horizon. However the losses for the common currency were limited as the downgrades have been well discounted from the markets, sovereign buying for the Euro directed from Asia bolstered the pair and combined with weak US economic data in the day rocketed the EURUSD which climbed again at the 1.4200 levels depreciating most of the losses. Throughout the Asian session the single currency was hovering between 1.4182 and 1.4149, while investors are concerning this sluggish move as base to retest the 1.4281 level of November 2010. There are not important economic data from Europe today apart from the EU Economic Summit, the important news are coming from the United States, where the GDP data will be released at 12:30 GMT with forecasts to point to an impressive increase in the Annualized rate for the fourth quarter of the previous year. Currently the EURUSD pair is trading at 1.4172.
Despite the fact that the US Dollar is generally frail across the board the Sterling fell against the greenback on Thursday due to poor Retail Sales data and the negative BoE minutes released the day before and not abiding by the positive correlation which traditionally has with the EURUSD pair. The last Asian trade for this week for the Sterling was more or less flat against the Dollar as it was traded between as session low of 1.6097 and a high of 1.6130, without giving clear signs for its direction further in the day. The GBPUSD pair is now trading at 1.6116, stacked close to the trough. The GBPJPY was for another session flat as it was traded in a narrow range, the price for the pair currently is 130.51.
The Aussie in the late US trade almost achieved a new 29 year high, however during Asian session was held lower. Investors believe that the pair will break above the multi year high as the high commodity prices and the risk appetite in the global markets are giving to the commodity currency continuous boost. The AU Dollar is now trading against the US Dollar at 1.0203, eyeing the 29 year high of 1.0254 achieved on December 2010.
If somebody will observe the hourly chart of the USDJPY will come to the conclusion that the present week was silent for the pair compare to the previous week, where we had the massive fall due to the earthquake the tsunami and the nuclear crisis in Japan and the impressive rebound after the G7 market intervention. The Asian session could not break the rule of the limited moves of this week. The Dollar hit a high of 81.03 against the Japanese Yen and a low of 80.94, a fluctuation of only 9 pips in a whole session is a very good indication of the skepticism with which the investors are facing the USDJPY pair after the intervention. The pair now is trading at 80.98, in the middle of the session’s range. The EURJPY pair it can be said that it was slightly more vivid in the day than the major pair, nevertheless its moves in the session cannot be characterized other than sluggish. The cross pair is now trading at 114.74.
The safe haven metal earlier today touched a new all time high of USD 1447.5 an ounce, the second in the present month amid of the turmoil in the Arabic world and especially in Libya and the collapse of the Portuguese government. Gold did not hold the gains for long as it fell during the US trade, bouncing back slightly at the Asian session, touching a session high of USD 1434.3 an ounce. The spot gold is now trading at USD 1433.2 per ounce.
EURUSD | USDJPY | GBPUSD | AUDUSD | EURJPY | GOLD | |
OPEN
(21:00 GMT) |
1.4171 | 80.99 | 1.6119 | 1.0207 | 114.78 | 1431.6 |
DAY’S HIGH | 1.4182 | 81.03 | 1.6130 | 1.0223 | 114.89 | 1434.3 |
DAY’S LOW | 1.4149 | 80.94 | 1.6097 | 1.0185 | 114.66 | 1430.1 |
CLOSE
(06:00 GMT) |
1.4171 | 80.97 | 1.6123 | 1.0218 | 114.76 | 1433.2 |
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.