February 3rd, 2012

Currencies          EUR/USD headed for a weekly decline against all of its 16 major peers as Greece and its creditors struggle to reach an agreement on a debt swap.The euro was little changed at $1.3140 as of 2:40 p.m. in Tokyo from $1.3144 in New York yesterday, set for a 0.6 percent weekly decline.

USD/JPY traded within one yen of a postwar high versus the dollar, raising speculation the country will intervene to weaken it.The yen traded at 76.19 per dollar from 76.22. It rose to as high as 76.03 on Feb. 1, approaching the post-World War II record of 75.35 set on Oct. 31.

AUD/USD fell from near five-month highs as Asian stocks dropped, curtailing a global advance in equities and reducing demand for riskier assets.Australia’s dollar declined 0.2 percent to $1.0691 from yesterday, when it reached $1.0757, its strongest since Sept. 1.

Commodities  Oil traded near a six-week low before a report forecast to show the U.S. added fewer jobs last month than in December.Crude for March delivery was at $96.56 a barrel, up 20 cents, in electronic trading on the New York Mercantile Exchange at 1:32 p.m. Singapore time. The contract fell 1.3 percent to $96.36 yesterday, the lowest since Dec. 19.

Gold advanced to the highest level in eight weeks, gaining alongside equities and other commodities, as global manufacturing improved, weakening the dollar and boosting demand for alternative investments.  Gold rallied as much as 0.5 percent to $1,751.97 an ounce, the most expensive since Dec. 8, and traded at $1,746.30 at 1:20 p.m. in Singapore.

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