Forex and Gold Daily Report for October 11, 2012

The AUD rose against the greenback on Thursday after the government revealed the country added more jobs than expected in September. While EUR, GBP and JPY traded slightly lower against USD as growing worries over the global economic outlook and lingering fears over the euro zone’s ongoing debt crisis.

While Gold prices fell in Asian trading on Thursday after Standard & Poor’s said it downgraded Spanish sovereign debt, which sent investors rushing to the safety of the dollar, gold’s traditional hedge.

  • Australia’s unemployment rate rose more-than-expected last month, official data showed on Thursday. In a report, Australian Bureau of Statistics said that Australian unemployment rate rose to  5.4% from 5.1% in the preceding month.
  • The euro traded lower against the dollar on Thursday after Standard & Poor’s downgraded Spain for the third time this year and slapped a negative outlook on the country.
  • The pound edged higher against the U.S. dollar on quiet Wednesday, but gains were limited as investors continued to focus on developments in the euro zone amid sustained concerns over the outlook for global economic growth.
  • The U.S. dollar inched higher against the yen on Wednesday, but gains were limited amid growing worries over the global economic outlook and lingering fears over the euro zone’s ongoing debt crisis.
  • Gold futures traded lower during U.S. afternoon hours Wednesday, as mounting fears over the health of the global economy and concerns over the euro zone’s ongoing debt crisis lifted demand for the greenback.

To download complete report; CLICK: Forex and Gold Daily Report for October 11, 2012

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