Euro/USD Fell for the Seventh Day –Daily Recap May 8

The Euro/USD continued its descent during yesterday trading again; yesterday it completed a seven consecutive business days fall. The safe haven currency CHF also depreciated against the U.S dollar. Furthermore, the GB Pound and other currencies such as the Canadian dollar and Austrian dollar were traded down against the USD. Gold and silver prices plummeted on Tuesday; finally, crude oil price (WTI) also fell yesterday.

Here is a summary of the development of major currencies for May 8th:

Forex Market:

The Euros to US Dollar declined again by 0.34% to 1.3006; during the month, the EUROS/USD decreased by 1.76% Australian Dollar to US Dollar also decreased by 0.74% to 1.0122.

The U.S dollar to Canadian dollar rose to 0.999. During the month so far the USD/CAD exchange rate increased by 1.15%.

The GBP to USD also declined by 0.2% to 1.6158; from the beginning of the month the GBP to USD decreased by 0.47%.

Finally, the U.S Dollar/ Yen traded down by 0.05% to 79.87. 

Commodities Market:

Gold price plummeted on Tuesday by 2.11% to $1,604.5. During the month, gold price decreased by 3.59%.

WTI oil price also declined by 0.95% and reached $97.01 per barrel; during the month so far the WTI decreased by 7.49%.

A Summary of the Changes in Exchange Rates for May 8th:

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

Exchange Rate Forex 2012 EURO USD May 8

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