Error
  • JUser: :_load: Unable to load user with ID: 1811

ANALYSIS

Market Review - 29 April 2013

The dollar fall against other major currencies after disappointing first quarter data released on Friday, supporting the fact that Federal Reserve will continue bond buying at $85 billion a month and is unlikely to cut back the easing program anytime soon.

USD fell 0.2% to 97.85 yen, after setting four-year high 99.95 yen in the beginning of April after the announcement of major stimulus program by the Bank of Japan.

The euro was up 0.4 percent at $1.3085.

Traders are on alert for US manufacturing activity and nonfarm payrolls report. If dollar continues to weaken, the market may see euro holding on to its gains.

"Disappointing GDP data for the United States has raised concerns about the level of oil demand and led to some profit-taking after recent big gains," said Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt.

Gold futures, which often provide trading cues to cash gold, hit $1,472.20 an ounce before settling at $1,469 an ounce, up $16. Spot gold rose $6 to $1,470 an ounce.

currency pairs review 29 Aprill 2013