Daily Overview EUR/USD (Bloomberg) The dollar declined versus most of its major peers after Federal Reserve Chairman Ben S. Bernanke said inflation and unemployment rates show the U.S. economy still requires very accommodative monetary stimulus. The dollar slid 1 percent to $1.3118 per euro at 12:05 p.m. Tokyo time after earlier touching $1.3207, the weakest since June 21. It reached 98.27 yen, the least since June 27, before trading at 98.51 yen, 1.2 percent lower than yesterday. Japanundefineds currency added 0.1 percent to 129.26 per euro. USD/CAD The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, rose 0.6 percent to C$1.0465 per U.S. dollar at 5 p.m. in Toronto, after rising to as high as C$1.0447. The currency fell to C$1.0609 on July 5, the weakest level since October 2011. One loonie buys 95.56 U.S. cents. GOLD (Bloomberg) Gold climbed for a fourth day to the highest level in more than two weeks after Federal Reserve Chairman Ben S. Bernanke backed sustained stimulus for the foreseeable future. Platinum touched a three-week high as silver and palladium advanced. Spot gold rose as much as 2.4 percent to $1,289.80 an ounce, the highest level since June 25, and traded at $1,284.02 by 11:27 a.m. in Singapore. A fourth day of gains would be the longest winning streak since the five days to April 22. Silver (Bloomberg) Silver for immediate delivery gained 2.7 percent to $19.9107 an ounce, gaining for a fourth day. +CLQ13 WTI for August delivery was at $106.21 a barrel, down 31 cents in electronic trading on the New York Mercantile Exchange at 12:36 p.m. Sydney time. The volume of all futures traded was 53 percent above the 100-day average. The contract climbed $2.99 to $106.52 yesterday, the highest close since March 27, 2012. Brent for August settlement slid 33 cents to $108.18 a barrel on the London-based ICE Futures Europe exchange.
Posted on: Thu, 11 Jul 2013 10:28:28 +0000
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