Sep 11: Obama's speech on Syria

11 September, 2013

EUR/USD has once again failed to rise above $1.3280 and edged lower into the $1.3250 area.  On the data front today there is only the German final CPI at 6:00 GMT. GBP/USD is trading slightly below the $1.5745/50 resistance area. Cable is waiting for a bunch of the UK employment data at 8:30 GMT. Claimant count change is expected to improve in August, but at a slower pace than in July. Unemployment rate is forecasted to stay at 7.8%.

USD/JPY reached the 7-week high at 100.60 after US President Barack Obama called for a pause in authorizing military strikes on Syria as the market’s sentiment improved and demand for yen as a safe haven declined. USD/CHF is rising for the second day. Today the greenback’s trading at yesterday’s high in the 0.9365 area.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped by 0.2% after gaining 2.7% this week. AUD/USD rose on Tuesday to the top of the daily Ichimoku Cloud at $0.9318, the highest level since July, and is trading below this level at the moment of writing. NZD/USD closed yesterday above $0.8050. Today kiwi’s correcting down a bit, to $0.8040. The RBNZ will announce its interest rate decision at 21:00 GMT. USD/CAD recovered from the yesterday’s monthly low of 1.0345 to 1.0360.


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