The Euro changed direction again and sharply fell yesterday against the US dollar; furthermore, many other currencies also slightly depreciated against the U.S dollar including Aussie dollar and CHF. Silver and gold prices finished Tuesday’s plummeting; crude oil price on the other hand slightly increased yesterday.

Here is a summary of the development of major currencies for February 29^th:

Forex Market:

The Euros to US Dollar sharply decreased by 0.99% at 1.3325; during the month, the EUROS/USD rose by 1.85%. Australian Dollar to US Dollar also decreased by 0.32% to 1.0732.

The U.S dollar to Canadian dollar on the other hand fell to 0.09882. During February the USD/CAD exchange rate fell by 1.44%.

The GBP to USD increased by 0.08% to 1.5913; from the beginning of the month the GBP to USD rose by 0.98%.

Finally, the U.S Dollar/ Yen sharply rose by 0.86% to 81.15. 

Commodities Market:

Silver price took a dive on Wednesday by 6.89% to $34.64. During the month, silver price increased by 4.15%.

WTI oil price on the other hand increased by 0.49% and reached $107.07 per barrel; during the month the WTI rose by 8.72%.

A Summary of Yesterday’s Exchange Rates:

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

For further reading:

• Weekly Outlook for February 27- March 2
• Gold and Silver Prices Weekly Outlook for February 27- March 2
• Gold and Silver Prices Outlook for March 2012