Forex: Weekly review

The euro rallied sharply this week as European leaders struck a second bail-out deal for debt-stricken Greece.

The single currency climbed to a two-week high against the dollar as confidence rose that the €109bn rescue package for Greece agreed at an EU summit on Thursday could contain the eurozone’s debt crisis.

Over the week, the euro rose 1.4 per cent to $1.4352 against the dollar, climbed 0.4 per cent to Y112.40 against the yen and was 0.4 per cent stronger at £0.8807 against the pound.

The single currency also advanced against the Swiss franc, which has surged higher in recent months as investors have sort refuge from the eurozone debt crisis.

The euro, which just on Monday hit a record low of SFr1.1403 against the Swiss franc, rose 1.6 per cent to SFr1.1723 on the week.

The Swiss franc also dropped 0.2 per cent to SFr0.8165 against the dollar and was down 1.2 per cent at SFr1.3303 against the pound.

Other European currencies also advanced while haven demand for the dollar eased as the rescue deal boosted investor sentiment. Ongoing wrangling in Washington over a new budget deal also weighed on the dollar.

The pound rose 1 per cent to $1.6295 against the dollar on the week, the Swedish krona climbed 1.9 per cent to SKr6.3530 and the Norwegian krone gained 2.3 per cent to NKr5.4285.

Rising risk appetite also boosted commodity-linked currencies with the Australian dollar climbing 2 per cent to $1.0850 against the US dollar on the week and the New Zealand dollar rising 2.2 per cent to a fresh 30-year high of $0.8642.

Over the week, the dollar also dropped 1 per cent to Y78.28 against the yen.

Latest news

13.12.2024

NZD/USD Price Analysis: Pair edges lower to 0.5760 as selling pressure mounts

13.12.2024

Australian Dollar struggles under pressure as Fed policy shifts

13.12.2024

EUR/USD Price Forecast: Hovers near 1.0500 post-ECB’s rate cut

13.12.2024

Mexican Peso rebounds amid prospects of Fed rate cut

13.12.2024

US Dollar holds its ground on quiet Friday

13.12.2024

Dow Jones Industrial Average extends losses, sheds another 100 points

13.12.2024

Gold dips amid rising US yields ahead of next week’s FOMC meeting

13.12.2024

EUR/USD Price Analysis: Pair recovers slightly, still below 20-day SMA

Support

Personal area

Trading
- Account types
- Market
- MetaTrader 4/5
Promotions
- Promotions
Investments
- Synchronous Trading
  - Rating
  - About Service
  - How it Works
  - FAQ
Analytics
- News and Tools
- Market analysis
  - Market Opinions
  - Technical Analysis
TeleTrade
- About brand
- Сooperation
- Knowlege Base
  - Education

Personal area

Forex Demo Account

Start Bonus 100%

Synchronous Trading

Our Advantages

Economic Calendar

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers