USD climbs against Taiwan Dollar
The USD rose against the Taiwan dollar as it took a gain of about NT$0.3 and closed at the highest level of the day at NT$29.290. This came in as the intervention by the central bank stopped the losing streak of the greenback for the last three consecutive trading days. The USD saw an opening at the fundamental level of NT$29.260 and started advancing towards an earlier flow level of NT$29.200 before it started following a rebounding trend. All in the entire turnover totaled to about US$660 Million during the trading session.
Experts believe that traders have become more optimistic about the regional currencies as they start placing their faith upon the improved fundamentals seen the world over after China also reported a plan to expand its manufacturing domain.
Euro higher against USD after data from US comes in
The European currency rose substantially against its US counterpart this Thursday after an improved outlook for the labor market in the States prompted traders to start moving into other arenas as well as apart from the safe haven US Currency. The Yen meanwhile fell against the dollar and the euro both as it started to weigh downwards because of the importers selling the currency in Japan. As experts believed that the newly emerged risk appetite started to establish itself in the markets, the EUR rose firmly against the USD for the entire trading session. The euro finally took to a trading high at $1.2982 as against its last level of $1.2970 rising about 0.1%. Against the yen it rose by almost 0.4 percent, reaching a sustained level of 103.74 Japanese yen.
Improved Risk Appetite, Yen Weakens
The Japanese currency took a major fall against its counterparts with positive data coming in from the Chinese markets as the economy improved upon the risk taking appetite amongst the traders in the forex markets as suggested by reports released on Thursday. The yen fell about 0.3 percentage points against the euro while also undertaking a rise against its US counterpart by about 0.3 percentage points thereby advancing to the level of 80 yen for the very first time in the entire week of trading till now. It however reached a session high of 80.11 yen as the PMI manufacturing figures from the Chinese data showed an expanding trade while also boosting the Chinese economy substantially.
Flat crude prices, Gas Futures take a rise
Crude oil futures took a flat line in trade as traders decisions were impacted by hurricane Sandy that hit the US in multiple cities and spread carnage all throughout thereby impacting the energy markets severely.
The prices for both light and sweet crude for the delivery in the month of December fell to the mark of $86.23 for every barrel in the morning trade on the York Mercantile Exchange, and Bent crude prices fell to the $108.21 mark per barrel dropping by almost 49 cents.