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Sunday, April 4, 2010

Dollar benefit from the problems in Europe

Foreign exchange markets the dollar strengthened and gathered up to the euro and pounds.

Concerns about the budget of Germany, expressed in the statement of Finance Minister of the country and fall in the UK BVR squeezed position of the European currencies, and thus gave a predominance of green money.

DXY dollar index has increased from 84.105 to 85.138, with a week added 1.5 percent on their level.

On a weekly basis most traded pair EUR / USD has changed with 0.4 percent at the expense of the interconnected currency from 1.3520 dollars per unit, the euro traded in the U.S. Friday trading at the 1.3289 dollars.

Increased loss of gold, whose price last week fell by 3.5 percent. Last night, April futures become cheaper with 1.8% or $ 16.70 to $ 923.20.

The price of oil dropped by 3.6 percent or $ 1.96 to $ 52.38 per barrel. On a weekly basis, however, futures primary energy feedstock marked increase of 0.6 percent. Analysts engage recent movements in prices with the dollar strengthening, which pressed the market for goods denominated in U.S. currency.

Stock Exchange on Wall Street closed with reduced indices. After a series of upward movements, players cached investment and listen to speeches of bankers that month, which now goes, was among the very difficult. On a weekly basis but the exchange indexes recorded increases, the largest is under the DJIA, up to 6.8%.

DOW JONES INDUS. AVG decreased by 1.87% to 7 776 points.
S & P 500 INDEX lost 2.03 percent to 815 points.
NASDAQ COMPOSITE INDEX decreased to 2.63% to 1 545 points.

Meanwhile tirazhiraha information agencies of the central bank of South Korea, which adjusted its forecast for the country's GDP from 2.5% to 2.2%. Fourth largest economy in Asia is growing by double lower pace than in 2007 when growth was 5.1 percent. Data for the last quarter of 2008 show a decline in the economy by 3.4 percent, which is perceived as a signal that the country could fall into recession, affected by global financial crisis.

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