Rabu, 25 September 2013

DAILY ANALYSIS FOR 24.09, 2013


Asian and European trading sessions:

Euro: After data on business sentiment in Germany, which were weaker than expected the euro exchange rate fell slightly against the dollar. The Ifo survey showed that business climate index rose to 107.7 in September from a revised 107.6 in August, while many economists' expected it at the level of 108.4. Also, the Ifo business expectations index rose to 104.2 in September from 103.3 in the previous month, where accordingly to forecasts the index had to grow to 104 mark. The current conditions index fell slightly to 111.4 from 112 in August with forecast an increase to 112.6. The EUR / USD pair fell to $ 1.3470 during the European session.


British Pound: The British pound fell against the dollar after the data that showed that the approved applications for mortgage loans increased in August, both in quantity and in value terms in the UK. The data presented by the British Bankers Association (BBA) confirmed that the number of mortgages approved for house purchase rose to 38,228 which is the highest level since 2009. However, the August level was below the consensus of the forecast of 38650. In value terms, mortgage applications to purchase homes rose to 6 billion British pounds from 5.8 billion pounds in July. In addition, the data showed that the level of unsecured borrowing rose by 0.3% compared with a year earlier. As part of the annual growth of credit cards was 6.7 % surpassing the personal loans and overdrafts, which grew by 5.1%. The GBP / USD pair fell to $ 1.5956 during the European session.


New Zealand Dollar and Australian Dollar: The currency of Australia and New Zealand fell against most major currencies amid falling Asian stock indexes, departing from theirs the four-month high.
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American trading session:


U.S. Dollar: The dollar allowed for its competitors to recover some of the lost ground which was helped by the U.S. data, demonstrated that the consumer confidence presented by Conference Board fell in September. The Index is currently 79.7 compared to 81.8 in August. The current conditions index rose to 73.2 from 70.9. And the expectations index fell to 84.1 from 89.0 last month.


Gold: The gold prices declined moderately today, registering with the decline in the fourth session in a row, which was associated with the strengthening of the dollar. The cost of the October gold futures dropped to $ 1315.00 per ounce on COMEX today.


Oil: The cost of WTI oil futures fell slightly, dropping at the same time below $ 102.80 per barrel as geopolitical tensions eased, and there were some new evidence of increases in oil supplies from Libya and Iraq.
 

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