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- European session: investors awaited at Europe's summit
European session: investors awaited at Europe's summit
10:00 UK CBI industrial order books balance (October) -18
The yen rose to a post-World War II high versus the dollar as concern U.S. growth is slowing and European leaders will fail to resolve the region’s debt crisis boosted demand for the safety of Japan’s currency.
The dollar dropped before U.S. reports that economists said will show durable goods orders fell in September and new-home sales stagnated, adding to speculation policy makers will resume asset purchases.
Europe’s summit today comes after six days of haggling among finance ministers, central and commercial bankers, chancellors, presidents and prime ministers over the shape of a second bailout for Greece, the recapitalization of banks and the retooling of the 440 billion-euro bailout fund into a more potent weapon.
EUR/USD: the pair was consolidated in $1,3950 area.
GBP/USD: the pair showed high in $1,6040 area then decreased.
USD/JPY: the pair updated a historical low, reached Y75,70 and grown later.
The main focus for Wednesday will continue to be the EU Summit.
US data starts at 1100GMT with the weekly MBA Mortgage Application Index. At 1230GMT, durable goods orders are expected to fall 0.7% after the 0.1% decline in August. Boeing reported 59 aircraft orders in the month, down sharply from 127 orders in August. At 1400GMT, new homes sales are expected to rise slightly to a 300,000 annual rate after four straight declines. The weekly EIA Crude Oil Stocks data is due at 1430GMT.
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