Euro/USD Resumed its Downward Trend–Daily Recap March 6

The Euro resumed its downward trend and sharply declined yesterday as the speculation around a Greek default is rising and the EU GDP contracted by 0.3% in the fourth quarter of 2011; furthermore, many other currencies also depreciated against the U.S dollar including Aussie dollar and GBP. Silver and gold prices sharply decreased for the third day; crude oil price sharply fell as well.

Here is a summary of the development of major currencies for March 6th:

Forex Market:

The Euros to US Dollar sharply declined by 0.80% at 1.3111; during the month, the EUROS/USD fell by 1.61%. Australian Dollar to US Dollar also decreased by 1.1% to 1.0554.

The U.S dollar to Canadian dollar increased to 1.0019. During March the USD/CAD exchange rate rose by 1.39%.

The GBP to USD edged down by 0.95% to 1.5716; from the beginning of the month the GBP to USD decreased by 1.24%.

Finally, the U.S Dollar/ Yen fell by 0.81% to 80.89.

Commodities Market:

Silver price sharply fell again on Tuesday by 2.71% to $32.78. During March, silver price decreased by 5.37%.

WTI oil price also sharply decreased by 1.89% and reached $104.70 per barrel; during the month the WTI slipped by 2.21%.

A Summary of the Changes in Exchange Rates:

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

Exchange Rate Forex 2012 EURO USD March 6

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