Euro/USD Declined for the Sixth Day –Daily Recap May 7

The Euro/USD continued its fall with no clear end in sight; yesterday it slightly fell and thus completed a six consecutive business days drop. The safe haven currencies CHF and Yen also depreciated against the U.S dollar. On the other hand, the GB Pound and other currencies such as the Canadian dollar and Austrian dollar were traded up against the USD. Gold and silver prices declined on Monday; finally, crude oil price (WTI) also decreased yesterday.

Here is a summary of the development of major currencies for May 7th:

Forex Market:

The Euros to US Dollar slipped again by 0.24% to 1.3051; during the month, the EUROS/USD decreased by 1.42% Australian Dollar to US Dollar on the other hand edged up by 0.17% to 1.0197.

The U.S dollar to Canadian dollar slightly declined to 0.993. During the month so far the USD/CAD exchange rate increased by 0.61%.

The GBP to USD also rose by 0.25% to 1.619; from the beginning of the month the GBP to USD decreased by 0.27%.

Finally, the U.S Dollar/ Yen traded up by 0.08% to 79.91.

Commodities Market:

Gold price slightly declined on Thursday by 0.37% to $1,639.1. During the month, gold price decreased by 1.51%.

WTI oil price also decreased by 0.56% and reached $97.94 per barrel; during the month so far the WTI decreased by 6.61%.

A Summary of the Changes in Exchange Rates for May 7th:

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

Exchange Rate Forex 2012 EURO USD May 7

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