Rabu, 11 September 2013

DAILY ANALYSIS FOR 10.09, 2013



Asian and European trading sessions:

 Euro: The euro fell against the dollar after the data on industrial production in France came out weaker than expected. The information presented today by the statistical office Insee, showed that the volume of French industrial production fell unexpectedly by 0.6% in July compared with the previous month June where the rate was at 1.4% decline. The production, according to expectations, would have to be higher by 0.5%.  The EUR / USD pair fell to $ 1.3225 level during the European session.

Japanese Yen: The yen fell today against its competitors as the Bank of Japan announced its firm intention to continue easing the monetary policy. This was stated in the minutes of the last meeting of the Central Bank, which was held last week. The USD / JPY pair rose to Y100.40 area during the European session.

Australian Dollar: The Australian dollar rose to a six-week high on the background of improved business confidence after the election. Accordingly to the National Australia Bank, the business confidence in Australia in August rose to its highest level since May 2011 against the expected victory of the coalition of the Liberal and Conservative parties in the recent elections.


American trading session:

U.S. Dollar: The dollar fell against the euro losing the all previously earned a position on the
background of the fact that the information that has been published today in Washington by the Labor Department of U.S. The report resulted that the number of vacancies in the private sector in the U.S. decreased in July by 180K to 3.69 million compared with the revised 3.87 million the previous month. The pace of hiring also increased. The other main news that put pressure on the dollar today was the information that the U.S. secretary of state John Kerry said the United States will study the offer from Russia to Syria. Note that Russian diplomats over the past day could seriously change the approach to the Syrian issue.


Gold:  The gold prices declined significantly today, while losing about 2%, dropping to $ 1362.00 per ounce after Syria accepted the offer of Russia to give up chemical weapons in order to prevent a strike by the United States.

Oil:  The prices of the WTI October futures fell sharply today to $ 106.70 a barrel on the NYMEX, registering with the second session decline in a row, which was connected with an attempt to resolve the Syrian diplomatic issue, and the decision of the Senate of the United States to postpone the vote on military intervention in Syria.



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