Market news
12.09.2013, 06:00

Asian session: The greenback traded near the lowest this month

01:30 Australia Unemployment rate August 5.7% 5.8% 5.8%

01:30 Australia Changing the number of employed August -10.2 10.2 -10.8


The greenback traded near the lowest this month against the euro before a report forecast to show U.S. jobless claims rose. U.S. jobless claims probably rose to 330,000 in the week ended Sept. 7, from 323,000 in the previous seven-day period, according to the median estimate of economists surveyed by Bloomberg News before today’s data. Demand for the dollar as a haven receded as the U.S. delayed a congressional vote on military action in Syria.

Fed Bank of New York President William C. Dudley speaks today in Paris. He said in July that economic growth will probably quicken next year, possibly warranting a reduction in stimulus.

The yen gained after Japan’s machinery orders stagnated. In Japan, machinery orders were unchanged in July from June when they fell 2.7 percent, the Cabinet Office announced today in Tokyo. Economists surveyed by Bloomberg predicted a 2.4 percent increase.

Australia’s dollar fell against all 16 major counterparts after the number of people employed in the country fell 10,800 last month, following a downwardly revised loss of 11,400 jobs in July, the statistics bureau said today in Sydney. Economists predicted a 10,000 increase in August.

New Zealand’s dollar strengthened against all its major peers after the RBNZ forecast bank bill rates will be higher than previously estimated in the first half of 2014, indicating the central bank may raise benchmark borrowing costs within that period.


EUR / USD: during the Asian session the pair traded in the range of $ 1.3305-25

GBP / USD: during the Asian session, the pair traded in the range of $ 1.5815-30

USD / JPY: during the Asian session the pair fell to Y99.40


There is a full calendar on both sides of the Atlantic Thursday, with a speech from ECB President Draghi one of the highlights. The data calendar gets underway at 0600GMT, with the release of the German August wholesale price data. There is a slew of euro area inflation data expected from 0645GMT, when French August HICP umbers will be published. Spanish August data will be released at 0700GMT. Also due at 0700GMT, Bundesbank Vice President Sabine Lautenschlaeger will deliver a speech on OTC derivatives reforms, in Paris. At 0730GMT, ECB Governing Council member Erkki Liikanen holds a press conference on monetary policy and global economy, in Helsinki. Italian July industrial production data will be released at 0800GMT, along with the ECB's monthly report - likely to be a repeat of the opening statement at the last monthly press conference. At 0900GMT, the July EMU industrial output numbers will cross the wires, along with the Italian August final HICP. The OECD economic survey of Ireland will also be released at 0900GMT. There is a Euro Conference in Riga, Latvia. EU Commission VP Olli Rehn will speak at 0900GMT, while ECB President Mario Draghi will speak from 1140GMT. Bank of Latvia Gov. Ilmars Rimsevics speaks at 1220GMT

At 0845GMT, BOE Governor Mark Carney, and MPC members Fisher, Miles and McCaffery all appear before the Treasury Select Committee. With employment stronger than forecast at the recent reading, there is likely to be tight questioning over the BOE's forward guidance.


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