Central Gold-Trust (AMEX:GTU) witnessed volume of 1.09 million shares during last trade however it holds an average trading capacity of 123,865.00 shares. GTU last trade opened at $67.64 reached intraday low of $66.17 and went -5.50% down to close at $67.15.
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(CEBK, CNMD, CMCO , CRWE,BCAR) Featured Stocks by CRWESelect.com
Central Bank Actions Give Euro Edge over Swiss Franc
Fundamentally the consensus is the Euro is stronger than the Swiss Franc. The Euro rose on Wednesday on the thought that the European Central Bank may be getting ready to implement a tighter monetary policy. This conclusion was supported by comments from European Central Bank Executive Board member Juergen Stark who said an easy monetary policy can have negative effects.
Yen Falls on Possible Japanese Central Bank Intervention
The December Japanese Yen fell sharply overnight on speculation that Japanese authorities might have intervened again in the foreign exchange markets. Although Japanese Finance Minister Yoshihiko declined to comment on whether authorities intervened, Yen market players feel the Bank of Japan was active in the market.
Japanese Intervention Plan Getting No Support from Central Banks
The USD JPY hit a key 50% price at 80.40 as forecast, triggering some light profit-taking. Although traders anticipate another round of intervention, there has been no notable central bank activity at this time. This could mean that aggressive traders will continue to push the Dollar/Yen lower into the next retracement level at 80.04.
The U.S. Dollar is trading better against the Euro and British Pound as Forex traders await today’s European Central Bank and Bank of England Policy statements. The Dollar is also gaining against the commodity-linked currencies, helped by lower gold and crude oil. Weaker equity markets are putting additional pressure on higher risk currencies while underpinning the lower yielding Japanese Yen.
Dollar Likely to Get Direction from This Week’s Central Bank Meeting
The U.S. Dollar is trading mostly lower versus most major currencies overnight with the exception of the Japanese Yen. Following last week’s news driven rally, Dollar traders may choose to stand on the sidelines or lighten-up positions during the two days leading up to the Fed FOMC meeting on January 27.
Forex Traders await European Central Bank Policy Decision
The EUR USD is trading flat as Forex traders await this month’s European Central Bank policy decision. Investors are looking for the ECB to leave interest rates at the historically low 1% level. At the same time, the market will be looking for comments on the debt problems in Greece, Portugal and Spain. Expect the language of the report to be dovish in tone.