Ukrainian Globalist

The common European currency is doomed to fall. And the whole Euro zone is to blame. The senior currency strategist of Westpac Banking Corp. in New York considers that rescuing Greece at best will only delay inevitable devaluation of common currency.

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The auction at interbank currency exchange of Ukraine has opened today on 7.9885-8.0115 UAH/USD and 11.5215-11.5525 UAH/EURO. The National Bank of Ukraine has purchased USD per 7.9825 UAH. At the end of auction the rate of the Ukrainian currency has raised and has been 7.9780-7.9930 UAH/USD and 11.5120-11.5370 UAH/EURO.

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The resaults of stock trading on Thursday, December, 10 showed that Russian rouble balanced the US currency. At the Forex international currency exchange the rate of rouble rose up along with the USD losing stability.

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Gold has unexpectedly lost its value along with Dubai World bankruptcy. This morning exchange has lead yellow metal to the minus. Analysts of market don’t even intend to forecast the future of gold rate.

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USD attempts to rise up in price on background of EURO. Analysts consider that this time European currency has fewer chances to reach the level of $1.5\€1. European currency is now supported neither by Pound nor by Yuan and Yen. But it has Russian Ruble as unexpected ally.

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Analyst’s forecasts about rate of currency to the year 2010 depend on the development of recession processes. Some specialists consider the reason of financial crisis in violation of ethic standards. That is why they call to revival of virtue in financial markets.

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Analysts of Forex consider that gold prices will grow up to $2000 per ounce. To their mind the yellow metal is able to grow up even while stabile USD and in spite of rising oil price. Gold becomes an independent equivalent.

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Gold stumbled on growing dollar. Undoubtedly dollar shows real power in these troubled times. Gold slipped lower in USA and Europe on Friday as the dollar firmed, dampening the momentum which has lifted prices more than nine percent this month after reports of central bank gold buying.

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Dollar goes crazy. Today is the judgement day, - said Alek Joachim, currency analyst of Forex Argentina. Dollar tried to attack euro twice one day. Surely it was not the best day for such effort… Investors dumped stocks in favor of safer assets including the dollar on Thursday following discouraging signs of a subdued economic recovery.

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EURO can lose its leadership due to the US currency. USD is going up. But it is too early yet to give it a marathon status. USD is doing its best to rise up today in spite of decreasing indices of stock exchanges.

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