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1 FxNet Market News on Wed Aug 05, 2015 5:16 am

After rising on Tuesday, the euro was lower on Wednesday as Greece’s Syriza party urged for a new funding agreement and not a bridge loan.

The EUR/USD pair lost 0.13 percent to its lowest level since the 21st of July at 1.0866.

The bank sector share index FTATBNK in Athens’ Stock Exchange lost 14.8 percent in early deals on Tuesday. Athens bourse’s benchmark general index ATG traded 1.28 percent lower after losing 1.2 percent on Tuesday.

The U.S. dollar which saw some losses on Tuesday rallies against the euro on Wednesday following comments from Atlanta Fed President which supported a September rate hike.

The USD/JPY pair was little changed at 124.39. The AUD/USD pair lost 0.46 percent to 0.7345. The pair was expected to find support at 0.7261 and resistance at 0.7429.

The U.S. dollar index which measures the greenback against a basket of six major currencies hit its three and a half months high at 98.218 before settling at 98.096.

Later in the day U.S. ADP job reports for July and ISM service sector activity will be released.
The AUD/NZD pair lost 0.21 percent trading at 1.1263.

Brent oil for September delivery on the New York Mercantile Exchange added 1.06 percent to 50.52 dollars a barrel.
Crude oil for September delivery on the New York Mercantile Exchange added 0.97 percent and traded at 46.19 dollars a barrel during European morning hours.

Gold futures on the Comex of the New York Mercantile Exchange for September delivery tumbled 0.35 percent to 1,086.90 dollars a troy ounce during Wednesday’s morning European hours.

Silver on the Comex for September delivery lost 0.36 percent falling to 14.50 dollars a troy ounce while copper, which fell to its six year low earlier this week, lost 0.63 percent and traded at 2.347 dollars a pound.

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