Most major currencies continued to depreciate against the US dollar throughout the closing week of September; the ongoing uncertainty in the forex market in regards to the European debt crisis and the recent announcement of the Fed’s stimulus plan to purchase long term securities may have helped major currencies to trade down against the USD.
Here is a short review of the changes in major exchange rates including Euro/USD, USD/CAD and GBP/USD for the week of September 26th to September 30th 2011:
Forex Market Weekly Summary:
Euro/USD declined by 1.07% during the week; this week’s average Euro/USD rate reached 1.353, a 0.41% decrease from the previous week’s average of 1.359; the Euro to US dollar exchange rate finished the week at 1.339.
AUD/USD also declined by 1.74% during the week, and AUD/USD weekly average reached 0.979, a 2.18% decrease from the previous week’s average of 1.001; the Australian dollar to US dollar exchange rate reached 0.966 on Friday.
USD/CAD sharply inclined by 2.46% during the week; this week’s average USD/CAD rate reached 1.033, a 2.30% decline from the previous week’s average of 1.010.
During the week, the average daily percent change of AUD/USD decreased by -0.24%; EURO/USD declined by -0.17%.
In the chart above are the changes in selected exchange rates including Euro/USD and GBP/USD during the week of September 26th up to September 30th.
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 declined mainly on Friday.
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Previous issues of weekly report: