Forex-Metal Daily Analysis -22/04/2011

Rehabilitation of the US dollar.

Asian and European trading sessions:
Australian Dollar: Release of the strong Australian fundamentals supported the national currency, and the Australian dollar hit a 29-year maximum against the US dollar. The Producer price index grew and turned out to be at the level of 1.2%, which was above the forecasted 1.0%. Expectations for the further increase of the interest rate reinforced.
Euro: Thursday morning saw continuing strengthening of the euro. The EUR/USD grew to the $1,4650 mark.
American Dollar: Greenback was under pressure due to the increased demand for the high-risk assets.
British Pound: Sterling rate increased to the $1.6600 level. The released UK retail sates data was above forecasts, which supported the pound.
Japanese Yen: The USD/JPY pair traded in the range of Y81,80 – Y82,00.

Oil: US dollar weakening resulted in the oil rate growth to the level of $112.40 per barrel.
Gold: Gold set today its new historical maximum at the level of $1509 per ounce.

American trading session: On Friday the Financial markets of the US, Canada, European countries, Australia and New-Zealand will be closed due to the Easter holidays.
Euro: EUR/USD decreased and traded in the range of $1,4500-$1,4550.
American Dollar: US dollar rate rehabilitated and won back its previously lost positions.
Oil: During the second part of the day the oil rate showed some decrease due to the strengthening of the American dollar.