The Euro Rose Following ECB rate Reduction –Recap November 3

The Forex exchange rate market continued the same trend of the past days as major currencies slightly inclined against the USD: the Euro/USD exchanged rate inclined; the US dollar also depreciated against the GBP and CAD. This was probably stem, in part, from the news of ECB reducing the interest rate to 1.25% and the chance of Greece not going through with the referendum – a  vote will be held today. Major commodities prices also rose. Here is a summary of the price movements of major exchange rates for November 3rd:

Forex Market:

The Euros to USD exchange rate inclined by 0.55% to reach 1.3823; during the week, the EUROS/USD declined by 2.3%; the Australian Dollar to US Dollar also rose by 0.68% yesterday and reached 1.042.

The US dollar to Canadian exchange rate fell by 0.68% on Thursday to 1.0067. During the week the USD/CAD exchange rate inclined by 1.5%. The US Dollar depreciated against the CHF by 0.71% yesterday and reached 0.878.

The USD to YEN exchange rate on the other hand slightly rose by 0.01% to reach 78.057; during the week, the USD to YEN inclined by 2.9%.

Commodities Market:

Gold price sharply inclined yesterday by 2.05% to $1,765.10. During the week, gold prices inclined by 1.0%.

WTI spot oil price also inclined by 1.69% and reached $94.07 per barrel; during the week the WTI spot oil price added 0.8% to its value.

A Summary of Yesterday’s Exchange Rate Forex Changes:

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

Exchange Rate Forex euro to us dollar conversion 2011 EURO USD November 3

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