|
Currency Weekly Report 06-01-2010
E-LIONS NEWS
In the last week of the year the U.S. dollar had a mixed performance against major counterparts. EUR/USD was quite choppy, trading between 1.4275 and 1.4430 ending the euro with a little depreciation against the buck. USD/JPY extended last week gains to 93.14. Japan’s currency future will depend primarily on the central bank and government’s ability to achieve the balance between supporting growth rates gradually and stabilize price levels, since the second largest economy in the world faces increased deflationary risk. GBPUSD was insanely volatile, rallying a full 400 pips from Tuesday’s lows before settling around 1.6150. Pound started rallying after house prices rose for the eight straight months in December by 0.4%.
The commodity currencies held up well with traders extrapolating US economic strength to mean global growth will get a boost in early 2010. The NZDUSD was the best performer between major currencies, while USD/CAD ended near 1.0465 fueled by an increase in the price of oil. | Cross | Last Price | Weekly Change | Annual Change | | | | | | | EURUSD | 1,4330 | -0,16% | 2,94% | | GBPUSD | 1,6144 | 1,24% | 10,97% | | USDJPY | 93,14 | 1,65% | 1,42% | | USDCAD | 1,0457 | -0,37% | -13,22% | | AUDUSD | 0,8975 | 1,53% | 26,19% | | NZDUSD | 0,7256 | 2,83% | 23,81% | | USDCHF | 1,0346 | -0,40% | -4,32% |
|
