In the beginning of the trading week the dynamics of the major currencies was diversified. On Monday due to the stock markets decrease, the American dollar rate had a positive dynamics. The released fundamental news also supported the US dollar. According to the published information, the largest American transportation companies, such as American Airlines and Delta Airlines Inc., could start the bankruptcy procedures.

But during the second part of the day the stock markets growth resulted in a drop of the US dollar. The EUR/USD pair first dropped to the $1.3890 mark, but then the rate increased to the $1.3991 level.

On Monday the oil rate decreased below $60 per barrel. Its minimum was set at the level of $58,32 per barrel. The gold rate also demonstrated a temporary decrease.

The Euro zone fundamental data, which was published on Tuesday, had a negative influence on the euro dynamics. The ZEW index showed a decrease instead of a forecasted growth. And the EUR/USD pair demonstrated its maximums at the level of  $1.4015, but then decreased after the release of the weak news.  At the same time the published positive news regarding the housing market in Great Britain and the retail sales data rendered support to the British sterling. Consequently the GBP/USD pair showed maximums at the level of  $1.6344.

On Wednesday the stable positive dynamics of the euro currencies has been established. The leading American companies’ corporate reports, which were published on Wednesday, turned out to be more favourable, than expected. Particularly, the quarterly reports of Goldman Sachs Group Inc. and Intel Corp. turned out to be stronger than the forecasts. Consequently, the market participants demonstrated willingness to take risks, and due to that the US dollar dropped against its major competitors. The fundamental news, published on Wednesday, particularly, the industrial index Empire Manufacturing and the industrial production data showed more positive results then forecasted. This fact supported the US dollar competitors as well. As a result, the EUR/USD pair reached maximums at the level of $1.4130.

At the same time the Great Britain Claimant Count Rate turned out to be lower, than forecasted, which supported the British pound. And the GBP/USD rate grew to the $1.6450 mark.

On the same day according to the decision of the Bank of Japan, the principal rate was left unchanged at the level of 0,10%, which did not influence the market dynamics. During this period the USD/JPY pair traded in the range of Y93.65-Y93.20.

On Wednesday the oil price increased again above the $61 per barrel after the publication of the US oil inventories data. The weakened US dollar and the increased stock markets supported the positive dynamics of the oil rate. The gold rate demonstrated a sharp upward movement and closed the trading day at the level of  $938.75 per ounce. The increased silver price closed the trading day above the $13.00 mark.

On Thursday in the beginning of the day the US dollar strengthened a little, but then demonstrated a negative dynamics again. The quarterly report of the JPMorgan Chase & Co., which was published on Thursday, turned out to be much better than the experts’ forecasts. Consequently, the investors’ willingness to take risks grew. The initial jobless claims number showed a much lower result, compared to the forecasts, which also had a negative influence on the shelter-currencies. And after a minor decrease, the EUR/USD rate rehabilitated and reached the level of $1.4150.

At the end of the week the situation changed again, since the Bank of America Corp. and the General Electric Co. demonstrated negative reports. As a result, the euro started to decrease against the US dollar. But at the end of the day on Friday the positive fundamental news were published in the US, which changed the dynamics of the major currencies. The EUR/USD pair closed the week at the level of 1.41, and the GBP/USD pair managed to strengthen at the 1,6380 mark.

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