Concerns over the European economy rehabilitation reinforced. Asian and European trading sessions:
Euro: Thursday saw the euro stepping back from the previously reached maximums against the greenback. The released Euro-zone fundamentals escalated investors’ concerns over the rehabilitation of the European economy. In particular, the Euro-zone Purchasing manager Services index dropped to 53.6, when it was expected to decrease only to 55.5. The Euro-zone Purchasing manager Manufacturing index also dropped unexpectedly to 53.6, which was below the forecasted level of 54.5.
US Dollar: The greenback continued to be under pressure during the morning trading on Thursday, as market participants were expecting negative US fundamentals from the home sales market.
The results of the FOMC meeting extended its negative influence on the US dollar rate, and the greenback decreased against the major currencies.
British Pound: The sterling traded in the range of $1,5630-$1,5680.
Japanese Yen: The yen has been trading around the level of Y84.5. Market participants are still expecting possible intervention of the Japanese Government.
New-Zealand Dollar: The New-Zealand Q2 GDP figures, which were published on Wednesday, continued to pressure the national currency on Thursday as well.
Oil: Oil was still under pressure of the yesterday’s oil inventories data, which showed increase, and traded around the $74.70 level per barrel. Later during the trading day, the rate decreased to $73.81 price per barrel.
Gold: The yellow metal price was set around the $1,292.20 level per ounce. American trading session:
US Dollar: The released US fundamentals supported the US dollar rate a little, and the greenback stabilized against the euro, as a safe haven currency.
The initial jobless claims grew to 465K against the forecast of 450K. The existing home sales showed an unexpected growth to 4.13M over the forecasted 4.10M. The leading indicators index showed increase to 0.3%.
