Aussie Dollar Sharply Declined on Tuesday –Daily Recap May 1

The Euro/USD continued to dwindle and finished yesterday slightly below its level from a day earlier. Following the announcement of the RBA to reduce the cash rate by 0.5 percent point the Aussie dollar immediately followed and sharply declined by almost one percent.

The safe haven currencies CHF and Yen also moderately depreciated against the U.S dollar. Gold and silver prices edged down again on Tuesday; finally, crude oil price (WTI) bounced back yesterday.

Here is a summary of the development of major currencies for May 1st:

Forex Market:

The Euros to US Dollar edged down by 0.13% to 1.3235; during the week, the EUROS/USD decreased by 0.1%. Australian Dollar to US Dollar sharply decreased by 0.91% to 1.0334.

The U.S dollar to Canadian dollar edged down to 0.985. During the week so far the USD/CAD exchange rate increased by 0.5%.

The GBP to USD slipped by 0.08% to 1.6221; from the beginning of the week the GBP to USD decreased by 0.3%.

Finally, the U.S Dollar/ Yen traded up by 0.34% to 80.09. 

Commodities Market:

Gold price edged down on Tuesday by 0.11% to $1,662.4. During the week, gold price decreased by 0.1%.

WTI oil price sharply rose by 1.23% and reached $106.16 per barrel; during the week so far the WTI increased by 1.2%.

A Summary of the Changes in Exchange Rates for May 1st:

The table below includes: closing prices, daily percent change, and daily changes:

Exchange Rate Forex 2012 EURO USD May 2

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