FXstreet.com (Córdoba) - Greenback finished lower across the board on Wednesday. Stocks fell in the U.S. and Europe, finished mix in Asia. A better than expected reading on GDP was more than offset by a decline in jobs and a surprise fall in the Chicago Purchasing Managers' Index. Main stocks indexes ended September in positive with gains of more than 2% in average.
The ecPulse.com analysis team affirms: Indices in the United States declined today as investor's concerns emerged in markets due to the unexpected contraction witnessed in the Chicago PMI report that overshadowed the GDP contraction that came in better than expected at 0.7% in the final reading for the second quarter of this year, thus raising investor's doubts that the U.S Economy continues to struggle in order to recover from the worst financial crisis since the Great Depression.
Dollar ends with moderate losses
Greenback fell across the board but at moderate pace. EUR/USD managed to rise above 1.4600 and to hold on top. Is the second time the pair rises out of the last six days. GBP/USD also rose but ended near the 1.6000 zone, far from 1.6125, intra-day high. Cable failed to hold gains against the Yen and the Euro, and finished with losses.
USD/CHF ended near the same opening levels, after a huge pullback. The pair rose to 1.0450 posting a 2-week high but then went back to 1.0355. The Swiss Franc lost ground against it European counterparts. Analyst talked about a possible intervention by the Swiss National Bank.
Yen slightly up
The Japanese currency rose slightly across the board, ending a few pips above the opening price. USD/JPY failed to get back above 90.00 and is still moving in a big range between 89.35 and 89.90.
Commodities soared on a weaker Dollar
Crude oil soared more than 5% and ended above $70 a barrel. Gold also rose and finished above $1,000 a/oz. These moves helped currencies tied to commodities that jumped. The Australian Dollar hit fresh 13-month high against the Dollar.