Tokyo Commodities trades in green zone
The Tokyo Commodity Exchange has announced that it has traded nearly 120,650 contracts per day during the month of September. That is a 55.4 percent increased when compared to August. Trading in Gold, the most active product at the exchange, was up 67.8% to 58,241 contracts. New stimulus plans coming from the Japanese central bank and the Federal Reserve may have improve the psychology of the market.
EUR/USD loses 0.6%
The euro lost 0.6 percent against the US dollar as a consequence of the International Monetary Fund’s forecasts for the world growth, which has declined. It also reached a 6-day low of 1.2857 where it found support at the 200-day EMA before closing the North American session with a second daily loss at 1.2885 as in the far East it has hold flat at 1.2880.
Australian dollar drops after downgrades on global markets
As a result of the downgrade in global markets done by the IMF, the Australian dollar has dropped for a second consecutive day. The Australian currency lost 0.2 percent to $1.0187 at 11:21 a.m. in Sydney this Wednesday. According to estimates, the Reserve Bank of Australia will lower interest rates next month to help spur growth in the labor market. Demand for the so-called Aussie was supported after prices for iron ore, Australia’s biggest export, surged to a two-month record. “The basic outlook is that employment growth remains weak,” said Greg Gibbs, a senior currency strategist at Royal Bank of Scotland Group Plc in Singapore told Blomberg’s Business Week.