Asian and European trading sessions:
Euro: The Euro fell against other major currencies on today’s Asian trading session. The EUR / USD pair retreated from yesterday’s high and recorded its session low at $1.2475 level. During the European session, the Euro showed strength against the major currencies on the background of the published media reports telling that after the parliamentary elections in Greece, which is scheduled for June 17, the creditors would consider easing on the requirements for austerity program for Greece. As the result, the EUR / USD pair grew to the $1.2475 level. However, its growth was limited due to the results of auctions for Italian government bonds, which recorded an increase in yields. In details, the average yield rose to the level of 3.972 % versus 2.34 % for a similar previous release. Italy was able to sell a 12- month bonds on 6.5 billion Euros with the coverage which decreased to the level of 1.73 against 1.79 for a similar previous release.
U.S. Dollar: The dollar was strengthening against most major currencies at the Asian session on the published results of yesterday’s auction on the Spanish bonds the yields of which grew to a 15-year high of 6.83%. The yield recorded the highest mark since 1997 year. The reason for this growth was a recent providing of the financial assistance for Spain on June 9. The country became the fourth country after Greece, Ireland and Portugal which received the finance help.
British Pound: The GBP / USD pair fell during the Asian session, retreating from yesterday’s high. The couple was able to recover at the beginning of the European session even moving to the highs of 1.5595.
Japanese Yen: The USD / JPY pair traded in a range of Y79.55-Y79.68 during the Asian session the pair. The European session showed some strength of the currency on background of rising demand for the safe assets and by the end of the session the USD / JPY pair was traded near the lows of Y79, 30.
American trading session:
Euro: The currency strengthened on the results of published today reports on Industrial Production in the euro area. The decline of Industrial Production in April was not so high than the average of analysts’ forecasts and recorded 0.8 % m / m and -2.3% y / y against forecasts of 0, 9% and -2.7% respectively.
U.S. Dollar: On the background of published today reports on U.S. Retail Sales which fell in May for the second consecutive month the dollar dropped against almost all traded currencies. The market participants thought that the issue could show a new sign of a slowing of the U.S. economy.
Gold: The Gold became expensive today on the news of possible easing requirements of the euro area to Greece after elections on June 17. The June Gold futures today grew to 1623.40 dollars per troy ounce today on the COMEX.
Oil: The Oil prices traded with volatile dynamics today. By the end of the day, the cost of the July futures on U.S. light crude oil WTI fell to $ 82.27 area rising before to $ 84.00 per barrel.