• European session: Dollar recovers losses

Market news

26 August 2013

European session: Dollar recovers losses

08:00 Eurozone ECB's Jens Weidmann Speaks


Dollar index recovers losses incurred last Friday, trading near session highs around 81.40/45.

For the dollar this week promises to be interesting, and today we know the results of the report on orders for durable goods in the United States. Markets expect a reduction of orders by 3.0% in July, while the index excluding the transport sector is projected at 0.6%. Investor sentiment continues to control the talk about the prospects for reducing the Fed asset purchases, which are amplified as we approach the September meeting of the FOMC. "Our economists still expect the Fed to announce the beginning of tightening at the next meeting, but as yet no figures and dates will not be made public. However, the decision itself will signal the movement of the Central Bank to normalize. We believe that QE could be completed in the middle of next year ", - noted Mr. Barry and J. Yu, strategists at UBS.

Euro traded near-month high against the yen in anticipation of tomorrow's data IFO business climate index in Germany. It is expected that the figure will continue to further recovery of the fourth month in a row. According to the median forecast of economists, the level of business confidence in Europe's largest economy is likely to grow this month to 107 from 106.2 in July. In this case, the German unemployment rate for August is likely to be 6.8%. This is the lowest level since May 2012.

Today in Japan, Chief Cabinet Secretary Suga said that before the start of an extraordinary session of parliament, which will be held this fall, Prime Minister Shinzo Abe will take the decision to raise the sales tax in the country.


EUR / USD: during the European session, the pair fell to $ 1.3354


GBP / USD: during the European session, the pair fell to $ 1.5553

USD / JPY: during the European session, the pair consolidated in the Y98.43-Y98.67

At 12:30 GMT will be published data on the Consumer Price Index in Canada in July. At 13:00 GMT Belgium publish an index of business sentiment for August. At 14:00 GMT is expected to publish an indicator of consumer confidence for August for the euro area. Also this time, the U.S. will present data on the volume of sales in the primary market in July.

At 12:30 GMT the United States will change in orders for durable goods, including excluding transportation equipment in July.

In Britain, the summer bank holiday


Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.