Forex, Gold and US Oil Monthly for November 2012

AUD/USD dropped almost 200points in the first week of month, as the pair fell below 1.0200, closing at 1.0182. The main catalyst for the Aussie’s dive was the rate cut by the RBA, which caught the markets by surprise.

EUR/USD played in thin trading range of 300points last month. In first week It seemed that some progress has been made both in Spain and in Greece, but uncertainty remained high as Mario Draghi didn’t provided any big news in the rate decision, apart from clarifying that the bond buying program is fully ready, awaiting a Spanish aid request, that hasn’t happened so far.

GBP/USD was unchanged almost unchanged last month. UK releases performed close to the market estimates. Last month, Preliminary GDP was a stronger performer, as it jumped 1.0%, its highest increase since July 2010. On the flip side, CBI Industrial Order Expectations plunged to -23 points, its worst performance in 2012.

Gold futures rallied to an 11-month high of USD 1,798.05 a troy ounce on October 5, boosted by ongoing expectations policymakers around the world will launch more stimulus to support the weak global economy. Gold futures ended the lowest level in six weeks, as a combination of ongoing fears over the euro zone’s debt crisis and mounting concerns over the outlook for the global economy drove investors to the relative safety of the U.S. dollar.

Crude oil futures continued downtrend, amid growing concerns over the global economic outlook and the impact on future oil demand prospects. Oil prices also drew support from ongoing concerns over diplomatic tensions between Israel and Iran. OPEC’s third-biggest crude producer may be able to build an atomic weapon by next year.

To download complete report; CLICK: Forex Gold and US Oil Monthly Report for November2012

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