Euro/USD Bounced Back on Thursday –Daily Recap May 10

The Euro/USD changed direction and after eight consecutive days of falling, yesterday the Euro edged up against the USD. This shifts however seems to be just a correction; it is yet to be seen if this will reverse the trend. The safe haven currency CHF also appreciated again against the U.S dollar. Furthermore, the Aussie dollar and other currencies such as the GBP also declined against the USD. Gold price edged up while silver price slipped on Thursday; finally, crude oil price (WTI) also rose yesterday.

Here is a summary of the development of major currencies for May 10th:

Forex Market:

The Euros to US Dollar edged up by 0.05% to 1.2937; during the month, the EUROS/USD decreased by 2.28% Australian Dollar to US Dollar also rose by 0.30% to 1.0081.

The U.S dollar to Canadian dollar decreased by one pip to 1.002. During the month so far the USD/CAD exchange rate increased by 1.52%.

The GBP to USD also increased by 0.11% to 1.6145; from the beginning of the month the GBP to USD decreased by 0.55%.

Finally, the U.S Dollar/ Yen traded up by 0.29% to 79.94.

Commodities Market:

Gold price also edged up on Thursday by 0.08% to $1,595.5. During the month, gold price decreased by 4.13%.

WTI oil price also increased by 0.28% and reached $97.08 per barrel; during the month so far the WTI decreased by 7.43%.

A Summary of the Changes in Exchange Rates for May 10th:

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

Exchange Rate Forex 2012 EURO USD May 10

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