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.
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.
The rate of EURO to USD will grow up if the US currency takes urgent measures to stabilize its positions. The matter is not only that USD needs financial support but that the US currency requires the moral support of the US Federal Reserve and exchange analytics as well as the President of the USA.
Yen is falling down rapidly. Japanese currency has tried its best to stand the double push of EURO and USD but is going to reach the historical minimum. Westernized analytics consider yen ready to make its greatest fall down since 2005. But it is not right time to consider its collapse of hyena though it couldn’t be unnoticed by traders of Tokyo.
Gold becomes the most reliable and effective investment. But is it for a long time?
Probably the gold will not be able to hold its positions but anyway it won’t be cheaper of 1000 USD. So the gold is the winner of the year 2009! Oil, euro and risky investments has remained behind. Only pharmacists created the swine flu have more luck. Today the gold value has got a position of $1118.50 per ounce.
The Goldman Sachs noticed the investors’ increasing interest to this precious metal. They forecast its position of $1200 per ounce closer to the end of the year.
USD auction at interbank money-market of Ukraine has begun today from 8.1460-8.1630 UAH/USD. Close to midday US dollar has fallen and at 14:45 it has been up to 8.1320-8.1535 UAH/USD.
The gold value sets the new record at the commodity exchange of Comex. Its futures have grown up to $1105,40 per ounce. Thus the previous record has been beaten to $2,5. To the experts’ opinion it is a result of depreciation of the US dollar that could provoke an increase procurement of precious metals.
Currency market remains stable. Last week confirmed it for sure. The euro gained to intraday highs against the dollar and yen early Tuesday on a bounce in crude-oil prices and global stocks following a day earlier sell-off.
USD shows some hope on growth. The greenback traded a little bit higher in today’s London session, starting the day where it left off from yesterday, extending its gains from the stronger than expected May non-farm payrolls report.
Euro had significantly fallen comparing to ukrainian hrivnya. Average exchange rate of united european currency has droped to the 10.55 hryvnyas for one euro. Euro can be bought for 10.64 hrivnyas.
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