Yesterday the EU leaders reached an agreement regarding the solutions for the European debt crisis including a 50% debt reduction for Greece and a boost to 1 trillion euros on the European rescue funds. The Euro/USD exchanged rate nearly didn’t change and slightly slipped yesterday; probably major currencies players were sitting on the fence until the EU summit was over; the US dollar sharply depreciated against the Canadian dollar; on the other hand the USD also appreciated against the AUD and GBP. Major energy commodities prices sharply fell yesterday, while the American stock markets changed direction and sharply inclined. Here is a summary of the price movements of major exchange rates for October 26th:
Forex Market:
The Euros to USD exchange rate slightly slipped by 0.01% to reach 1.3906; during October, the EUROS/USD inclined by 3.9%; the Australian Dollar to US Dollar declined by 0.29% yesterday and reached 1.040.
The US dollar to Canadian exchange rate sharply decreased by 1.23% on Wednesday to 1.0042. During October the USD/CAD exchange rate declined by 4.4%. The US Dollar on the other hand slightly fell against the British Pound by 0.16% yesterday and reached 1.598.
Commodities Market:
Gold price increased yesterday by 1.36% to $1,723. During October, gold price inclined by 6.2%.
WTI spot oil price on the other hand sharply fell by 2.99% and reached $90.22 per barrel; during October the WTI spot oil price added 10.2% to its value.
A Summary of Yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in prices and indexes:
For further reading: