Most major currencies continued to rally against the US dollar especially the risky currencies including the GBP, AUD, CAD ass they have appreciated during most of last week against the USD; the main reports that may have affected forex traders include the recent U.S. jobless claims report, U.S. retails sales report and U.S.’s Federal Budget report. The forex traders continue to keep close tabs on the developments in Europe regarding the debt crisis and the U.S.’s economic progress. The recent G20 meeting over the weekend may have eased the concerns of the financial community in regards to the European debt crisis.
Here is a weekly recap of the main changes in major exchange rates including Euro/USD, AUD/USD and GBP/USD for the week of October 10th to October 14th 2011:
Forex Market Weekly Summary:
Euro/USD inclined by 1.76% during the week; this week’s average Euro/USD rate reached 1.375, a 3.07% increase from the previous week’s average of 1.334; the Euro to US dollar exchange rate finished the week at 1.388.
USD/CAD declined by 1.56% during the week, and this week’s average USD/CAD rate reached 1.021, a 2.28% decline from the previous week’s average of 1.334. The USD/CAD exchange rate reached on Friday 1.010.
AUD/USD sharply inclined by 3.52% during the week, and AUD/USD weekly average reached 1.013, a 4.89% increase from the previous week’s average of 0.965.
During the week, the average daily percent change of AUD/USD increased by 1.15%; EURO/USD inclined by 0.75%.
In the chart above are the changes in selected exchange rates including Euro/USD and GBP/USD during the week of October 10th to October 14th. It shows the moderate upward trend of these exchange rates.
The last chart is of the daily percent changes of selected exchange rates including GBP-USD, EURO/USD and USD/CAD (or in other words the changes around the trend). It shows that the EURO/USD exchange rate sharply inclined on Monday.
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