Friday, 17 September 2010 12:38

| Monday
The SNB commented that the economic outlook remained uncertain.


Asian and European trading session:

Euro: The EUR/USD rate traded in the range of $1,2975-$1,3030.

British Pound: The sterling traded in the range of $1,5580-$1,5650. The British pound was under pressure on Thursday as the negative UK statistics was released. All the retail sales indicators demonstrated unexpected reduction.

Japanese Yen: The Japanese yen showed some consolidation after the yesterday’s decrease following the intervention.

The USD/JPY traded around the Y85,20 level.

Swiss Franc: According to the expectations, the Swiss National bank decided to leave the principal rate at the previous level of 0.25%. But the trailing comments led to the reduction of the national currency against its most competitors. The Swiss National Bank lowered the inflation forecast for 2010 to 0.7% from 0.9% and commented that the economic future outlook remained uncertain.

New-Zealand Dollar: As we have mentioned yesterday, the Reserve bank of New Zealand left the principal rate unchanged at the level of 3.00%. The following statement of the head of the Reserve Bank, Alan Bollard, pressured the New-Zealand dollar. He stated, that the economic outlook worsened and the forecast of the further interest rate increase would be moderate.

Oil: Oil rate decreased on Thursday and traded at the level of $74.20 per barrel.

Gold: The gold price increased to $1,275.10 per ounce.


American trading session:

US Dollar: Diverse US fundamentals were released on Thursday. The greenback showed decrease against the euro. The Philadelphia Fed index for September demonstrated a drop for 0.7 against the predicted increase for 0.5. At the same time the Net long-term TIC flows increased for July to $61.2B. The initial jobless claims dropped below the forecast to 450K.

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