The AUD, EUR, GBP dropped against USD after the release of batter than Expected US labor market data, while Gold traded higher as the investor waited for Friday’s crucial U.S. non-farm payrolls data, which will allow investors to gauge the strength of the labor market.
- The Australian dollar dropped to a one-month low against its U.S. counterpart on Wednesday, after data showed that Australia posted the largest trade deficit in three-and-a-half years in August.
- The euro traded down against the U.S. dollar Wednesday, following the release of broadly better-than-expected U.S. data, as uncertainty over when Spain will request a bailout remained.
- The pound extended losses against the U.S. dollar on Wednesday, dropping to a fresh three-week low as strong U.S. data , while a disappointing U.K. report continued to weigh on sterling.
- The U.S. dollar extended gains against the yen and remained broadly higher against the other major currencies.
- Gold futures traded higher in U.S. afternoon hours Wednesday, as market participants anticipate Friday’s crucial U.S. non-farm payrolls data, which will allow investors to gauge the strength of the labor market.
To download complete report, CLICK: Forex and Gold Daily Report for October 04, 2012