Market news
28.09.2011, 12:20

European session:

Data: 

06:00 Germany Import prices (August) -0.7%
06:00 Germany Import prices (August) Y/Y 6.6%
06:00 Germany Import prices excluding oil (August) Y/Y 3.0%
08:00 Italy Business confidence (August) 94.5
12:00 Germany CPI (September) preliminary 0.1%
12:00 Germany CPI (September) preliminary Y/Y 2.6%
12:00 Germany HICP (September) preliminary Y/Y 2.8%
The euro advanced to a one-week high against the dollar after the European Commission refuted reports that euro-area nations are pushing for private Greek bondholders to accept larger writedowns.
German Chancellor Angela Merkel said she’s waiting for a report from a team of officials from the European Union, European Central Bank and International Monetary Fund on Greece’s progress before deciding whether a second financing package for the country agreed on July 21 needs to be revised.
The shared currency strengthened versus major peers, appreciating against the dollar for a fourth day. The commission is unaware of discussions reported by the Financial Times yesterday that some euro-area nations wanted private Greek bondholders to accept bigger losses. 
The yen headed for a fifth consecutive monthly gain versus the euro as investors continued to purchase the currency as a refuge. 
EUR/USD: the pair showed high in $1.3680 area then receded back to $1,3640.

GBP/USD: the pair holds in $1.5600-$ 1,5670 range.
USD/JPY: the pair decreased in Y76.40  area.
At 12.30 GMT Aug durable goods is due. Cons. -0.4%

 


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