Euro/USD Sharply Fell on Tuesday –Daily Recap May 15

The Euro/USD continued its descent and as reaching its lowest level since January 2012. The recent news of the higher than expected growth in Germany’s GDP by 0.5% in the Q1 of 2012 didn’t slow down the fall of the Euro; the anxiety is still high on the recent developments in Greece; the recent news is that Greece is headed towards another elections to be held in June.. Furthermore, the Aussie dollar and other currencies such as the GBP also declined against the USD. The safe haven currencies JPY and CHF also depreciated against the U.S dollar. Gold and silver prices also edged down on Tuesday; finally, crude oil price (WTI) also declined yesterday.

Here is a summary of the development of major currencies for May 15th:

Forex Market:

The Euros to US Dollar declined again by 0.73% to 1.2729; during the month, the EUROS/USD decreased by 3.85% Australian Dollar to US Dollar also fell by 0.21% to 0.9937.

The U.S dollar to Canadian dollar rose by 0.34% to 1.007. During the month so far the USD/CAD exchange rate rose by 2.03%.

The GBP to USD also decreased by 0.61% to 1.5994; from the beginning of the month the GBP to USD decreased by 1.48%.

Finally, the U.S Dollar/ Yen traded up by 0.43% to 80.19. 

Commodities Market:

Gold price also slipped on Tuesday by 0.25% to $1,557.1. During the month, gold price fell by 6.44%.

WTI oil price also declined by 0.84% and reached $93.98 per barrel; during the month so far the WTI decreased by 10.38%.

A Summary of the Changes in Exchange Rates for May 15th:

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

Exchange Rate Forex 2012 EURO USD May 15

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