Market daily review 07.10 FOREX On Monday’s Asian session,USD traded lower against all his major pairs.As still there is no solution about the U.S government shutdown.EUR rose 0.10% versus USD,supported by last week’s good economic situation. JPY was in bullish movement versus all the major currencies,JPY rises in the situation of economic instability because Japan doesn’t depend on foreign capital to fund his deficits. GBP/USD rose 0.22%.USD/NZD traded lower during the Asian session,it fell down 0.22%,as investors are backing off from the riskier NZD. METALS AND COMMODITIES Gold price after the fluctuations,increased during the Monday’s Asian trading.Gold futures for December rose 0.24%.Silver futures price declined 0.35%.Cooper rose 0.28% to USD. Oil futures fell down during the morning,as there still no improvement about the U.S government shutdown.Brazil’s government will release data about massive oil discovery in northern coast of this country,later in the month.It is expected that it will be the largest oil discovery for this year.About 62% of Gulf crude production and 48% of natural gas,was shut down on October 6th,because of the tropical storm Karen.As the tropical storm has passed,workers have been brought back to their jobs,and price of natural gas fell down after resuming the production in the Gulf of Mexico. GLOBAL MARKETS Asian stocks have continued with the bearish movement from the last week.Japan’s Topix Index fell 1.2%.S&P 500 Index went down 0.7%,because it continues tension on the market due to the concern of non making agreement about budget,between Republicans and Democrats. Learn more at afxants
Posted on: Mon, 07 Oct 2013 05:40:12 +0000
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