The U.S. dollar was broadly higher against the other major currencies on Wednesday, amid ongoing concerns over Greece and U.S. fiscal policy, but the euro remained supported by speculation that aid payments for Greece could be bundled into a single payment.
While, Gold futures were little changed on Wednesday, following the release of mostly disappointing U.S. economic data and as markets continued to monitor the handling of the Eurozone’s debt crisis.
- The Australian dollar edged up to a one-week high against its U.S. counterpart on Wednesday, after the release of upbeat consumer sentiment data from Australia, but gains were limited by sustained fears over Greece’s debt woes.
- The euro remained supported after German newspaper Bild reported Tuesday that Greece could receive three bailout installments in one single payment of EUR44 billion, citing German government sources.
- The pound was almost unchanged against the U.S. dollar on Wednesday, as concerns over the outlook for growth in the U.S. and the euro zone continued to weigh after the Bank of England raised its forecast for short-term inflation and said growth would remain sluggish.
- The yen came under pressure after Japanese Prime Minister Yoshihiko Noda earlier said he could dissolve the lower house of the parliament on November 16, which suggests that an election may be held next month.
- Gold futures traded higher during U.S. trading hours on Wednesday, following the release of mostly disappointing U.S. economic data. but gains were limited as the investors are eying on Eurozone developments.
To download complete report; CLICK: Forex and Gold Daily Report 15 November 2012