With the release of a U.S. jobs report last week showing 190,000 jobs were lost in October, investors felt reassured in trading on Monday that American interest rates would stay low for the foreseeable future. Consequently, the Dollar dropped significantly in trading today pushing the Euro above the $1.50 mark. With the greenback's broad value falling 1% against six other major currencies, traders can expect that riskier currencies such as the Aussie and Kiwi will fare well for the time being.
Gold, also feeding off the dollars decline, reached record high prices of $1,100 an oz. in trading on Monday. With the commodity now cheaper for holders of non-dollar currencies, gold prices show no sign of peaking in the near future. In addition, gold was priced at 740.69 euros on Monday, (a near record high) indicating that its rise will continue for some time.