The euro has hit its lowest level against the dollar for over a year due to worries Greece’s debt problems could extend across Europe.

It dipped to a low of $1.2805 in online Forex trading today (May 5th), Reuters reports – the first time it has dropped below $1.29 since March 2009.

Market economist for Lloyds Banking Group Kenneth Broux told the news agency the $1.25 mark is seen as "the next big level on the downside" among those dealing with Forex spreads.

Michael Woolfolk, currency strategist for BNY Mellon, said concerns over eurozone debt are causing investors to move towards the US currency, which was today boosted by domestic jobs data showing 32,000 new positions were created in the country last month.

"The dollar is the safe haven of first choice," he stated, adding those operating in online Forex trading are "looking for any excuse to sell the euro".

Stocks across Asia have declined today (May 5th) amid continued worries the financial problems in Greece will spread to the rest of Europe.

The MSCI Asia Pacific Excluding Japan Index was down 1.8 per cent during CFD trading at 16:22 local time in Hong Kong, with the region’s Hang Seng shedding 2.1 per cent, Bloomberg reports.

In Taiwan, the Taiex retreated three per cent, while there were slides of 1.3 per cent and 3.5 per cent respectively for Australia’s S&P/ASX 200 and the Philippine Stock Index.

Strategist for AMP Capital Investors Nader Naeimi was quoted by the news agency as saying investors "have clearly shifted their focus from strengthening corporate earnings and an improving macroeconomic backdrop to the problem of sovereign debt".

And Prased Patkar of Platypus Asset Management said there is "no dispute" that concerns over the situation in Europe have affected risk appetite for those operating on CFD trading platforms.

However, the Nikkei 225 bucked the trend to end the day 1.21 per cent higher, with 176 listed companies rising.

Continued worries regarding the fragile state of eurozone economies have caused the price of gold to hit five-month highs today (May 4th).

According to Reuters, the precious metal has climbed in euro, sterling and the Swiss franc during CFD trading.

The metal, which is traditionally seen as a safe haven during times of uncertainty, reached €906.42 an ounce, £783.33 per ounce and 1,298.12 francs per ounce when priced in the euro, sterling and the Swiss franc respectively.

Consultant for Quantitative Commodity Research Peter Fertig was quoted by the news source as saying fears over the effectiveness of Greece’s financial aid package mean "the market remains very cautious".

And Edel Tully added the price could continue to rise and come close to the record high of $1,226.44 per ounce, which was reached in December last year.

Ms Tully was recently quoted by Bloomberg as saying gold is performing as it would be expected given the uncertainty surround Europe’s financial situation.

The 20th anniversary of ETFs is currently being celebrated by the Toronto Stock Exchange.

ETFs enjoy success on Canadian trading platforms, proving how popular they have been since first being listed two decades ago.

Chief executive officer of the TMX Group Thomas Kloet said the firm was proud to have "led the world in the creation of this revolutionary investment product".

Last year, 16.8 billion ETF shares were traded, which stood at 14 per cent of all Toronto Stock Exchange trading.

There were 38 new ETF listings in 2009 and, as of yesterday (April 22nd), there were 25 new ETFs listed in 2010 so far.

Mr Kloet stated the first ETF listing "laid the foundation for the sector’s remarkable growth and innovation – growth and innovation that we plan to foster and support for many years to come".

The TMX Group operates and owns TSX Venture Exchange and the Toronto Stock Exchange, which was established in 1852.

Output of palladium from South Africa rose by five per cent last year, according to a new report.

The GFMS study revealed to CFD brokers that while global palladium mine supply decreased by one per cent in 2009, South African output helped stem a significant fall.

CFD brokers may have renewed interest in the other white metal platinum, which the GFMS said experienced a surge in gross surplus last year to stand at 849,000 ounces, marking a 47 per cent rise.

Such a level is the highest noted in the 11-year data series and was helped by robust levels of investor demand.

Indeed, a previous report by the Telegraph said the strengthening motoring industry, which uses white metals for catalytic converters, could potentially make the commodity more popular than gold.

The GFMS report noted, however: "Looking ahead to this year, although platinum autocatalyst and industrial demand should benefit from the improved economic outlook, GFMS believes that this will be partially offset by weaker jewellery demand, principally in China."

The International Monetary Fund (IMF) has called on China to allow the yuan to gain in order to slow growth and allow exchange-rate appreciation.

According to the IMF, a number of Asian nations currently have undervalued currencies, particularly the yuan – a denomination of the renminbi, Bloomberg reports.

Asia is leading the global economic recovery, the organisation stated in its bi-annual World Economic Outlook report, which means policymakers should facilitate stronger Forex trading platforms.

It follows similar comments from economic leaders in the US, India, Europe and Brazil, who have all urged China to enable the yuan to rise.

The Asian country’s government has controlled the currency at approximately 6.83 against the dollar for nearly two years, having let it surge 21 per cent over the preceding thee-year period.

In other markets, the euro fell against the dollar for the sixth day in a row, weakening against 13 of its 16 most frequently traded peers, Bloomberg reported.

Traders are likely to see the price of gold climb for the third consecutive day during trading today (April 22nd) as concerns regarding financial aid for Greece persist.

This is according to Steve Chun, commodity trader for Hyundai Futures, who was quoted by Bloomberg as saying the metal "will probably enjoy more safe haven buying".

Individuals operating on a CFD trading platform will have seen the price of gold fluctuate during trading in Singapore today, moving into positive and negative territory by as much as 0.1 per cent each way.

By 08:58 local time it had settled to be largely unchanged on $1,146.50 (£741.68) per ounce.

Gold, which hit a record high in early December 2009, has been in favour over recent months.

It is traditionally seen as a safe haven for investors when worries arise over the value of currencies and fears that Greece’s €45 billion (£38.9 billion) aid package has not been finalised resulted in the euro falling close to a two-week low during online Forex trading today.

Market Report as of 8th February 2010

The DJ Euro STOXX 50 collapsed 2.80% to 2631.64. Stocks from the bank, basic resources and auto sectors lost ground.

92% of DJ STOXX 600 stocks traded lower Friday. 8% trade above their 20D MA vs 17% Thursday (below the 20D moving average). 66% trade above their 200D MA vs 72% Thursday (below the 20D moving average).

The DJ Euro Stoxx 50 Volatility index added 1.29pt to 30.55, a new 3mths high. The spread V2X-VDAX closed at a new 3mths high at 5.6.

The 10yr Bund yield fell 6bps to 3.16% (below its 20D MA). The 2yr-10yr spread fell 3bps to -213bps (below its 20D MA).

Outside the euro zone, the FTSE 100 closed down 1.53% to 5060.92. Auto & Parts, financial services and insurance shares fell most in London yesterday. BHP Billiton dropped 1.56% to 1824.5p and Lloyds Banking Group 5.73% to 48.315p.

In Switzerland, the SMI lost 2.07% to 6264.33. Roche lost 3.25% to SF169.8 and Nestle 2.79% to SF48.35.

European markets should start the day on a positive note.

Kick start the new year with another reason to celebrate by trading your favourite markets with One Financial.

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Please note spreads quoted are not guaranteed and may change according to market circumstances. For full details of our Terms and Conditions, please consult your client agreement.

Andrew Johnston

One Financial is a leading London based FSA regulated FX and CFD market maker providing clients all over the world with the opportunity to trade the world’s financial FX, commodity and equity markets at the a touch of a button. One Financial has a majority shareholding by UAE interests and as such has a strong presence and special focus on the Middle East.

January brings the launch of One Financial’s New Year’s Trading Resolutions campaign aimed at drastically reducing FX and Oil spreads and clients’ margin requirements.

The FX market is the largest and most liquid financial market in the world. Traders include large banks, central banks, currency speculators and other financial institutions. The average daily volume in global foreign exchange and related markets is continuously growing but latest figures showed the spot FX market to trade almost $3 trillion a day.

The Oil industry is one of the most talked about in the world. The Middle East being at the core of this commodity and one of its primary market participants in production makes it increasingly attractive as an investment opportunity.

The inception of the trading resolutions campaign is in anticipation of the growing amount of investors who are looking for new financial opportunities and relationships. One Financial provides investors with tighter spreads, margins and markets so that they can execute their investment strategies with confidence and efficiency. Being regulated by the FSA under the statute of the UK Government, investors can also be confident about the integrity of One Financial’s operations.

One Financial, reflecting their strong commitment to the Arabic speaking demographic, serves the Gulf region through its Dubai office which has Arabic, Turkish, Urdu and English speaking staff. Sherif Sanad, Head of Marketing to the Middle East region from the One Financial Dubai office regularyly provides expert analysis on the financial markets through his appearances on Al Arabiya, CNBC Arabiya and Al Jazeera TV.

One Financial’s Dubai office also supports its clients by offering free financial markets training and support to help clients improve their trading skills and investment returns.

One Financial is always looking to support its clients and can be reached through a variety of means, online chat, telephone and email. To find out more, you can visit One Financial on www.onecfd.com for full details

Commenting on One Financial, Senior Trader Andrew Johnston said “One Financial strives to provide its clients with the tightest spreads with the cheapest costs. We talk to our clients and we react to what they need, the ability to provide tighter spreads for less is always a priority.”

For more details visit us at www.onecfd.com