The #dollar inched higher on Tuesday, while #commodity exporters’ #currencies, like the Australian and Canadian dollars, held above recent lows after a rebound in global commodity prices the previous day. Against the #yen, the #dollar held steady at 118.44 yen. The dollar had hit a seven-year peak of 119.15 yen on Monday after Moodys cut Japans sovereign rating. The #euro held steady at $1.2465, with investors reluctant to get too excited over the single #currency ahead of Thursdays European Central Bank meeting, where some analysts expect more dovish comments from #ECB head Mario Draghi. Commodity-linked currencies had staged a dramatic reversal on Monday, when investors cut short positions as #oil, #copper and #gold prices rallied from lows. #Spotgold had dipped 0.3 percent to $1,206.47 an ounce by 0728 GMT, after gaining nearly 4 percent on Monday, its biggest one-day jump since September 2013. U.S. gold #futures fell 1 percent on Tuesday, while #silver futures also gave back some gains after sharp moves higher in the previous session. #Platinum and #palladium were lower as well after choppy trade on Monday. Read More: https://olofx/posts/dailyfundamentalanalysis/2014/12/02 #forex #fundamental
Posted on: Tue, 02 Dec 2014 08:24:33 +0000
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