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Forex: Thursday's review
Among the economic data today, it is worth noting recently published statistics on CPI for August and Initial Jobless Claims last week. The number of IJC rose to 428K as an average forecast 408K. Also CPI rose to the level of 3.8% y/y against an average forecast of +3.6%. Were later released positive data on Industrial Production in the U.S. in August: the forecast drops in the last reporting period to 0.1% the actual value was equal to 0.2% compared to the previous month. But all of these rather weighty economic data had no significant effect on the market against the background of the main news of the day - the plan to increase liquidity across the eurozone.
EUR/USD: the pair showed low at $1.3705. Then rose and reached high at $1.3930.
GBP/USD: in first half of day the pair fell to $1.5730. Then rose to $1.5870.
USD/JPY: the pair updated high in area of Y77.30. Then fell and finished session in Y76.60 area.
The meeting of Europe's Economic and Financial Affairs Council (ECOFIN) takes place in Poland from today, including US Treasury
Secretary Tim Geithner. European data starts at 0600GMT with ACEA new car registrations data. Data continues at 0800GMT with the ECB current account data for July. EMU data then continues at 0900GMT with Q2 labour costs and the July trade balance.
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