Forex and Gold Daily Report for December 07 2012

The U.S. dollar hit session highs against the broadly weaker Euro and GBP , and AUD was almost unchanged on Thursday, after the European Central Bank cut its outlook for growth next year, boosting prospects for an interest rate cut in the euro zone.

While on the other hand, Gold futures turned higher during U.S.  hours on Thursday, despite European Central Bank President Mario Draghi maintained a downbeat outlook on the euro zone economy.

  • The Australian dollar was almost unchanged against its U.S. counterpart on Thursday, after the release of strong Australian employment data, as investors remained cautious ahead of the European Central Bank’s monthly policy statement later in the day.
  • The euro plunged against the U.S. dollar Thursday, after European Central Bank President Mario Draghi slashed economic growth forecasts.
  • The pound erased gains against the U.S. dollar on Thursday, following downbeat comments by European Central Bank President Mario Draghi and after the Bank of England left its monetary policy unchanged.
  •  The U.S. dollar was trading close to session highs against the yen on Thursday, after data showed that service sector activity in the U.S. expanded at a more rapid rate than expected in November.
  • Gold futures traded at the lowest level of the session during U.S. morning hours on Thursday, after European Central Bank President Mario Draghi maintained a downbeat outlook on the euro zone economy.

To download complete report;CLICK: Forex and Gold Daily Report 07 December 2012

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