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- Asian session: The euro is in consolidation
Asian session: The euro is in consolidation
00:30 Australia Changing the number of employed September +20.4K
00:30 Australia Unemployment rate September 5.2%
02:00 China Trade Balance, bln September 14.5
The euro was 0.3 percent from an almost four-week high before European Commission President Jose Barroso speaks in Brussels after calling yesterday for a “coordinated approach” to recapitalize the region’s banks. Demand for the euro was bolstered as Slovakia is set to approve Europe’s enhanced bailout fund today or tomorrow, completing the ratification process across the 17 euro countries.
Australia’s dollar gained after a report showed the nation’s jobless rate fell.
The yen rallied from its weakest level in a month against the dollar on speculation Japan’s exporters bought their currency.
EUR/USD: on asian session the pair trade in range $1.3765-$1.3815.
GBP/USD: on asian session the pair trade in range $1.5725-$1.5760.
USD/JPY: on asian session the pair fell.
On Thursday UK trade data is set for release at 0830GMT. While analysts' median forecast is for little change in the trade balances from July there are doubts over what impact the euro area's sovereign debt crisis will have on trade activity. US data at 1230GMT with jobless claims and the international trade balance. Initial jobless claims are expected to increase by 9,000 claims to 410,000 in the October 8 week. At 1830GMT, Minneapolis Fed President Narayana Kocherlakota is due to deliver a speech to Sidney (Montana) Area Business Leaders.
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