The currency forex trading volume was very high during last week as the major currencies fluctuated very rapidly throughout the week. The main news item came from Europe as leaders of the EU Area reached an agreement on debt reduction for Greece and boosted the EU rescue fund. This news helped jump start the currency forex trading mainly during the second half of the week following the EU summit.
Here is a weekly recap of the main changes in major exchange rates including Euro/USD, USD/CAD, AUD/USD and GBP/USD for the week of October 24th to October 28th 2011:
Currency Forex Trading Weekly Summary:
Euro to US Dollar conversion sharply rose by 1.56% during the week; this week’s average Euro/USD rate reached 1.402, a 1.67% increase from the previous week’s average of 1.379; the Euro to US dollar conversion finished the week at 1.415.
USD/CAD declined by 1.21% during the week, and this week’s average USD/CAD rate reached 1.001, a 1.43% decrease from the previous week’s average of 1.016. The USD/CAD exchange rate reached on Friday 0.992.
AUD/USD sharply increased by 2.15% during the week, and AUD/USD weekly average reached 1.055, a 2.89% increase from the previous week’s average of 1.025.
During the week, the average daily percent change of AUD/USD was a 0.63% increase; EURO/USD inclined by 0.36%.
Currency Forex Trading In the Charts:
In the chart above are the changes in Euro to US Dollar conversion and GBP/USD during the week of October 24th to October 28th. It shows the upward trend these exchange rates had mainly during the second half of the week.
The last chart shows the daily percent changes of selected forex currencies including EURO/USD, GBP/USD, and USD/CAD (or in other words the changes around the trend). In the chart, the Euro to US Dollar conversion started the week light changes and after the EU summit on Wednesday the currency recorded very sharp gains.
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Previous issues of weekly report: