- Forex: Tuesday review
Market news
7 November 2012
Forex: Tuesday review
The dollar fell against most of the 16 most traded currencies against the fact that voters in the United States must now decide who will lead the world's largest economy within the next four years.
Analysts expect that after an initial rise, the U.S. currency is likely to fall against most other currencies, except the yen as investors' willingness to take risks will increase with the victory of Romney. At the same time, Obama's victory will cause a weakening dollar, in light of the fact that politicians will try to avoid the so-called "financial failure."The euro continued its rise against the fact that the data released showed that the volume of industrial orders in Germany fell in September to the highest setting for the year. The Ministry of Economy in Berlin said that orders, adjusted for seasonal variation and inflation, fell 3.3%, after a revised downward rate for August at 0.8%.
The Australian dollar rose against all major currencies after the central bank unexpectedly declined to lower interest rates, leaving it at 3.25%.
Note also that in the context of the decision of Australia currency rose to a five-week high against the U.S. dollar.
The dollar index (DXY), which is used to track the U.S. currency against six major currencies, the U.S. partners, decreased slightly, reaching the mark with 80.68, after rising in the previous four days.
Pound during trading trading reserved, but in the last hours showed a slight increase. Note that in the first half of the day rate fell slightly against the dollar after a report showed that industrial production and manufacturing output declined significantly, exceeding the estimates of analysts. Also during the session, it became known that the house price index fell in October by 0.7%, while the expected increase of 0.5%. But despite this, the currency could still be strengthened by setting a new session high.
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