The Euro/USD changed direction and sharply declined yesterday; Forex Crunch provides several possible reasons for this sharp depreciation of the Euro. The sharp appreciation of the U.S. dollar may have also affected major commodities prices as gold price and crude oil prices sharply declined. Yesterday, major currencies also depreciated against the U.S dollar such as Australian dollar and GB Pound. Here is a summary of the development of major exchange rates for December 28th:
The Euros to USD exchange rate declined by 1.00% to reach 1.2941; during December, the EUROS/USD fell by 3.76%. The GBP to USD exchange rate also sharply fell by 1.36% to reach 1.5458; during the month, the GBP to USD decreased by 1.57%. The US dollar to Canadian exchange rate inclined by 0.57% on Wednesday to 1.0244. During the month the USD/CAD exchange rate inclined by 0.7%.
The Australian Dollar to US Dollar also decreased by 0.63% and reached 1.0094.
The U.S Dollar also appreciated yesterday against the Yen by 0.08% and reached 77.9425.
Gold price sharply fell on Wednesday by 1.97% to $1,564.10. During December, gold price has declined by 10.64%.
WTI spot oil price also decreased by 1.1.95% and reached $99.36 per barrel; during December the WTI spot oil price shed 1.00% off 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:
For further reading:
Yearly Analysis and Outlook: