Weekly Forex Gold and Oil Report for Oct 29 – Nov 02, 2012

The dollar rose against most major global currencies after the U.S. October jobs report beat expectations, sparking demand for U.S. assets. Investors opted for the greenback over stocks and other risk-on assets due to the proximity of U.S. presidential elections on Tuesday.

The US dollar touched Rs96 in the open market this week. The US dollar has seen an increase of Rs1.30 during the current fiscal year.

The dollar strengthened against the yen on Friday after the U.S. government reported the economy added more payrolls than expected in October.

The euro fell against the dollar on Friday even though the U.S. government revealed the economy picked up more payrolls than expected in October,

The pound extended losses against the U.S. dollar on Friday, dropping to a three-day low after the release of positive U.S. employment data.

Gold investors also went long on the dollar on the last Friday before Election Day to ride out electoral uncertainty, which sent gold falling. Gold and the dollar often trade inversely.

Crude oil futures plummeted in U.S. trading on Friday as the northeast U.S. continued to recover in wake of Super storm Sandy, wiping out concerns that supply closures at refineries would be long lasting.

In compliance with the Supreme Court order reduced the price by Rs30.90 in Region I (Potohar, KP, & Baluchistan) to be sold at Rs61.64 per kg & Region II (Sindh, Punjab) reduced to Rs.30.38 to be sold at Rs.54.16 per kg.

To get complete report; Click: Weekly Report Oct29-Nov02 2012

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