Daily outlook – 26th September 2011 (00:30GMT)

September 26, 2011

Currency Updates:

U.S. Dollar Trading (US) was mixed on Friday, with little economic data scheduled for release. A late session rally in wall street saw the Dow Jones end up by 37.65 points (+0.35%), NASDAQ up 27.56 points (+1.12%) and S&amp P up 7.47 points (+0.49%). Developments from the G20 summit left investors with the notion that a solution was no closer to materializing. Although global finance ministers of the G20 countries indicated a willingness to take all necessary actions to stabilize the global financial system &nbsp

The Euro (EUR) whipped around on Friday, succumbing to significant pressure, before pairing much of its losses as stock markets turned positive late in the session in the hope that Central Banks may provide further measures to support the regions debt crisis. With the Euro trading at highs of 1.3568 and a low of 1.3420 &nbsp &nbsp &nbsp &nbsp

The Japanese Yen (JPY) markets were closed on Friday for Bank Holiday, showing little movement during the Asian session, before rallying from lows of 76.15 to a high of 76.89 on the back of the Wall Street rally &nbsp

The Sterling (GBP) wasquite volatile throughout Friday, eventually ending the day higher on general equity market rally. The GBP had traded with lows of 1.5375 and a high of 1.5495

The Australian Dollar (AUD) fell to a new Yearly low of 0.9668 on Friday, before reversing sharply during the US session trading with sight of day highs of 0.9865. Yet the AUD ended the week under pressure, as the commodity currency failed to gain any reprieve in light of lower metals

Oil &amp Gold (XAU) XAU plummeted on Friday falling by US$ 101 an ounce, to a low of US $1628 an ounce, lowest levels since August 2010, and a 9% drop for the week, its largest weekly decline since the 1980&amp rsquo s. Oil also fell on Friday by US$0.66 a barrel to close at US$79.85 a barrel. &nbsp &nbsp

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