The euro rose sharply against the U.S. dollar since the deposition of the vote on approval of military intervention in Syria has reduced demand for refuge assets . It should be noted that on Monday, the first vote on military intervention in Syria , scheduled in the Senate, was unexpectedly delayed. It was assumed that it will take place later this week, but then the senators have made it clear that the vote be postponed to a later date. Earlier, President Obama liked the statement of Minister of Foreign Affairs of Russia Sergey Lavrov, who believes that all stocks of chemical weapons to Syria to pass under international control. Secretariat of the President of Russia has carefully examined the proposal on Syria and decided to postpone the war. Obama said that this could be a first step to ending the conflict .

Note that many market participants are waiting for tomorrow's speech by Federal Reserve Bank of New York William Dudley . Earlier in his speech , on July 2 , Dudley said that U.S. economic growth is likely to quicken in 2014, and to reduce the quantitative easing program may have in the fall. Recall that the meeting will take place on September 17-18 Open Market Committee Federal Reserve , where, according to the median forecast of experts , politicians will reduce the amount of monthly purchases to $ 75 billion from the current $ 85 billion

The pound rose against the dollar significantly , which in the first place was due to release better-than- expected data on British employment as well. This has given rise to expectations that the Bank of England may have to raise interest rates earlier than indicated in the long-term plan policy.

As it became known, in the UK, the number of applications for unemployment benefits fell in August, more than expected , to the lowest level since February 2009 , showed on Wednesday , official data .

According to the Office for National Statistics , the number of people claiming unemployment benefits fell by 32,600 to 1.40 million, is the lowest level since February 2009 . Economists had expected a drop to 21200 .

As a result, the unemployment rate in August fell to 4.2 percent from 4.3 percent in July . Economists had expected the rate will remain unchanged at 4.3 percent .

The unemployment rate in the three months to July was 7.7 percent, up 0.1 percentage points lower than in the period from February to April. Unemployment rates were slightly lower than expected 7.8 percent . Average wages excluding bonuses rose by 1 percent during May to July compared with the same period a year earlier. With bonuses revenues grew by 1.1 percent.

European stocks rose for a second day, extending a three-month high, as U.S. President Barack Obama postponed a decision on military action against Syria.

The Stoxx Europe 600 Index rose 0.2 percent to 310.4 at 4:31 p.m. in London, having earlier climbed as much as 0.4 percent. The benchmark gauge has advanced 4.4 percent in September as Chinese manufacturing, industrial production and retail sales increased. The Stoxx 600 has rallied 11 percent this year as central banks around the world maintained stimulus measures and the global economy showed signs of recovery. The index had declined 11 percent from May 22 through June 24 after the Fed said it may start reducing the pace of asset purchases if the economy improves in line with its forecasts. Federal Open Market Committee officials hold their next meeting on Sept. 17-18.

Obama said yesterday in an address from Washington that he will pursue a proposal by Russia to have Syria surrender its stockpiles of chemical weapons to international authorities. He had previously said he would ask Congress to authorize the use of military force against Syrian President Bashar al-Assad following an Aug. 21 chemical attack that the U.S. says killed more than 1,400 people.

National benchmark indexes gained in 10 of the 18 western European markets today.

FTSE 100 6,571.77 -12.22 -0.19% CAC 40 4,119.11 +2.47 +0.06% DAX 8,495.73 +49.19 +0.58%

ARM jumped 4.6 percent to 984.5 pence, the biggest advance since April 23. Apple said late yesterday it will introduce two new iPhones, including a cheaper $99 version in bright colors and a high-end device.

The more expensive iPhone 5S will use ARM’s latest 64-bit technology, which carries a higher royalty rate and a higher chip value than current 32-bit technology, Andrew Dunn, an analyst at RBC Capital Markets, wrote in a report.

Nokia Oyj gained 3.6 percent to 4.41 euros after Berenberg Bank raised its recommendation on the Finnish phone maker to buy from sell, citing a stronger infrastructure business and an undervalued patent portfolio.

A gauge of utilities was the best performer among 19 industry groups in the Stoxx 600. EON, Germany’s largest utility, advanced 5 percent to 13.48 euros for the biggest jump in 13 months. RWE climbed 6.4 percent to 25.02 euros.

Kingfisher dropped 2.9 percent to 408 pence after Europe’s biggest home-improvement retailer said first-half adjusted pretax profit fell 1.6 percent to 365 million pounds ($574 million). That missed the 367 million-pound average forecast of analysts.

Vivendi SA lost 1.5 percent to 16.64 euros after its biggest shareholder, Vincent Bollore, said he isn’t seeking a paying position at the company. Bollore was among candidates to fill the role of chief executive officer at the French conglomerate, two people familiar with the matter had said.

Oil prices moderately increased , approaching with up to a high of $ 112 (Brent) and $ 108 (WTI), which followed a fall of more than 4 % in the last two days against that fell concerns about a military strike on Syria . It should be noted that U.S. President Barack Obama on Tuesday promised to study the initiative of Russia to neutralize mimic weapons to Syria . However , he is still skeptical of this step , and continues to seek support from other countries in the event of the failure of a diplomatic solution to the conflict scenario . Add that oil prices could rise sharply if there is any step taken against Syria , which , ultimately , may lead to supply disruptions from the Middle East region, which is the main oil-production .

The prospect of an imminent attack on Syria have added a risk premium of about $ 5, which boosted the price of Brent crude above $ 117 last month, but the market is almost back to the levels that have been studied before.

According to analysts, is expected to further decline , as geopolitical risks are reduced , and the current level of oil prices are still too high from a fundamental point of view. In addition, many experts believe that the U.S. Federal Reserve will decide next week to begin the reduction of monetary stimulus , although Friday's disappointing employment report in the U.S. convinced many economists that any action is likely to be gradual. Reducing incentives from the Federal Reserve is likely to strengthen the dollar, which will affect the cost of oil and other commodities.

It should also be noted that in the course of today's trading was influenced by the Department of Energy data on changes in stocks in the U.S. last week , which showed :

- Oil fell by 0.219 million barrels to 359.993 million barrels ;

- Gasoline inventories rose by 1.658 million barrels . to 217.645 million barrels . ;

- Distillate stocks rose by 2.586 million barrels . to 132.172 million barrels .

- Refining capacity utilization rate of 92.5 % versus 91.7 % a week earlier ;

- Oil terminal in Cushing and decreased by 0.639 million barrels . to 34.12 million bpd.

The cost of the October futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 107.77 a barrel on the New York Mercantile Exchange.

October futures price for North Sea Brent crude oil mixture rose $ 0.23 to $ 111.70 a barrel on the London exchange ICE Futures Europe.

Gold prices fell slightly today , reaching a three-week low at the same time , that, first of all, was associated with a reduced likelihood of military action against Syria. Note that U.S. President Barack Obama has said that he is open to a diplomatic solution to the crisis of Sitirey , but leaves open the possibility of a military strike .

In a televised speech, Obama asked Congress to postpone a vote on strike on Syria, while sought a diplomatic solution to the issue . Obama , however, said that the United States should strike on Syria if necessary in response to the use of chemical weapons.

On a motion to transfer chemical weapons under international control , Obama said it was too early to say whether the success or the offer and will be able to fire the president of Syria to keep promises.

Analysts say that Syria will now receive less attention of market participants , and the central meeting place will be the U.S. Federal Reserve , which is scheduled for September 17-18 .

Meanwhile, the experts add that the uncertainty in the timing and speed reduction program of asset purchases by the Fed is now putting pressure value of gold and will continue to do so until the central bank did not disclose that information at its meeting next week.

Also, note that the physical demand from Asia and other region remains weak, despite the fact that the price of gold fell below the psychologically key level of $ 1,400 an ounce.

The cost of the October gold futures on COMEX today dropped to $ 1362.50 per ounce.

EUR/USD $1.3100, $1.3215, $1.3250, $1.3350

USD/JPY Y99.50, Y99.60, Y100.10, Y100.50, Y101.00, Y101.30

EUR/JPY Y132.00

EUR/GBP stg0.8400, stg0.8405, stg0.8420

USD/CHF Chf0.9275

EUR/CHF Chf1.2310

AUD/USD $0.9200, $0.9285, $0.9300

EUR/AUD A$1.4375

NZD/USD $0.7950

USD/CAD C$1.0400, C$1.0650

U.S. stock-index futures were little changed after as Apple (AAPL) Inc. tumbled and President Barack Obama postponed a decision on military action against Syria.

Global Stocks:

Nikkei  14,425.07 +1.71 +0.01%

Hang Seng 22,937.14 -39.51 -0.17%

Shanghai Composite 2,241.27 +3.28 +0.15%

FTSE  6,574.79 -9.20 -0.14%

CAC  4,110.13 -6.51 -0.16%

DAX 8,490.26 +43.72 +0.52%

Crude oil $107.56 +0.16%

Gold $1362.50 -0.11%

Upgrades:

Downgrades:

Procter & Gamble (PG) downgraded to Neutral from Buy at Sun Trust Rbsn Humphrey

Apple (AAPL) downgraded to Neutral from Buy at UBS

Apple (AAPL) downgraded to Neutral from Buy at BofA/Merrill

Apple (AAPL) downgraded to Neutral from Outperform at Credit Suisse

Other:

Procter & Gamble (PG) initiated with a Underperform at BNP Paribas, target $74

Apple (AAPL) target raised to $570 from $500 at Lazard

Apple (AAPL) target raised to $525 from $500 at FBR

Apple (AAPL) reiterated at Outperform at Oppenheimer, targte raised from $460 to $540

05:30 France Non-Farm Payrolls (Finally) Quarter II -0.2% -0.2% -0.2%

06:00 Germany CPI, m/m (Finally) August 0.0% 0.0% 0.0%

06:00 Germany CPI, y/y (Finally) August +1.5% +1.5% +1.5%

08:30 United Kingdom Average earnings ex bonuses, 3 m/y July +1.1% +1.0% +1.0%

08:30 United Kingdom ILO Unemployment Rate July 7.8% 7.8% 7.7%

08:30 United Kingdom Average Earnings, 3m/y July +2.1% +1.3% +1.1%

08:30 United Kingdom Claimant count August -29.2 -21.2 -32.6

08:30 United Kingdom Claimant Count Rate August 4.3% 4.3% 4.2%

The yen earlier fell to seven-week low after U.S. President Barack Obama at a closed meeting with senators urged the Senate to delay the vote on approval of military intervention in Syria before considering a possible diplomatic solution to the conflict. On Monday, the first vote on military intervention in Syria , scheduled in the Senate, was unexpectedly delayed. It was assumed that it will take place later this week, but then the senators have made it clear that the vote be postponed to a later date. Earlier, President Obama liked the statement of Minister of Foreign Affairs of Russia Sergey Lavrov, who believes that all stocks of chemical weapons to Syria to pass under international control. Secretariat of the President of Russia has carefully examined the proposal on Syria and decided to postpone the war. Obama said that this could be a first step to ending the conflict .

The dollar steadied against major currencies ahead of tomorrow's speech of President of the Federal Reserve Bank of New York , William C. Dudley . Earlier in his speech , on July 2 , Dudley said that U.S. economic growth is likely to quicken in 2014, and to reduce the quantitative easing program may have in the fall. Recall that the meeting will take place on September 17-18 Open Market Committee Federal Reserve , where, according to the median forecast of experts , politicians will reduce the amount of monthly purchases to $ 75 billion from the current $ 85 billion

The pound rose and crossed the mark of $ 1.5800 after a report on employment in the UK. According to the Office for National Statistics , the number of people claiming unemployment benefits fell by 32,600 to 1.40 million, is the lowest level since February 2009 . Economists had expected a fall of 21,200 . As a result, the unemployment rate in August fell to 4.2 percent from 4.3 percent in July . Economists had expected the rate will remain unchanged at 4.3 percent . The unemployment rate in the three months to July was 7.7 percent, up 0.1 percentage points lower than in the period from February to April. Unemployment rates were slightly lower than expected 7.8 percent .

EUR / USD: during the European session, the pair rose to $ 1.3277

GBP / USD: during the European session, the pair rose to $ 1.5825

USD / JPY: during the European session, the pair fell to Y100.08

At 14:30 GMT the U.S. will release data on stocks of crude oil from the Ministry of Energy . At 17:00 GMT the United States spends placement of 10 - year bonds . At 21:00 GMT we will know the RBNZ decision on the basic interest rate will be a press conference by the Reserve Bank of New Zealand , the accompanying statement will be made of the Reserve Bank of New Zealand, and will report the monetary policy of the RBNZ . End the day at 23:50 GMT Japan data on the change in orders for machinery and equipment for July.

EUR/USD

Offers $1.3320/25, $1.3295/310

Bids $1.3230/20, $1.3210/00, $1.3150/40

GBP/USD

Offers $1.5920/30, $1.5900, $1.5870/80, $1.5840/50

Bids $1.5685/80, $1.5650, $1.5630, $1.5600

AUD/USD

Offers $0.9400, $0.9380/85, $0.9350, $0.9330/35, $0.9320

Bids  $0.9270, $0.9250, $0.9220/15, $0.9205/00

EUR/GBP

Offers stg0.8550/55, stg0.8520, stg0.8450/65

Bids stg0.8380, stg0.8350, stg0.8300

EUR/JPY

Offers Y134.60, Y134.30/40, Y133.80, Y133.50

Bids Y132.80/70, Y132.10/00, Y131.50, Y130.80, Y130.00/9.80

USD/JPY

Offers Y101.50/55, Y101.00, Y100.80, Y100.60/65

Bids Y100.00, Y99.80/70, Y99.35/30, Y99.20

Most European stocks climbed, after the Stoxx Europe 600 Index rose to a three-month high, as U.S. President Barack Obama postponed a decision on military action against Syria. U.S. index futures and Asian shares fluctuated.

Obama said yesterday in an address from Washington that he will pursue a proposal by Russia to have Syria surrender its stockpiles of chemical weapons to international authorities. He had previously said he would ask Congress to authorize the use of military force against Syrian President Bashar al-Assad following an Aug. 21 chemical attack that the U.S. says killed more than 1,400 people.

ARM jumped 4.8 percent to 986 pence, the highest since May 31. Apple said late yesterday it will introduce two new iPhones, including a cheaper $99 version in bright colors and a high-end device, in an attempt to increase its customer base.

Nokia Oyj gained 2.6 percent to 4.37 euros after Berenberg Bank raised its recommendation on the Finnish phone maker to buy from sell, citing a stronger infrastructure business and an undervalued patent portfolio.

A gauge of utilities was the best performer among 19 industry groups in the Stoxx 600. EON, Germany’s largest utility, advanced 3.6 percent to 13.30 euros and RWE, the second-biggest, climbed 3.3 percent to 24.29 euros.

FTSE 100 6,578.4 -5.59 -0.08%

CAC 40 4,112.48 -4.16 -0.10%

DAX 8,476.8 +30.26 +0.36%

Britain's jobless claims declined more-than-expected in August to the lowest since February 2009, official data showed Wednesday.

The number of people claiming Jobseeker's Allowance decreased 32,600 to 1.40 million, the smallest since February 2009, the Office for National Statistics said. Economists had expected a fall of 21,000.

Consequently, the claimant count rate for August edged down to 4.2 percent from 4.3 percent in July. The rate was expected to remain unchanged at 4.3 percent.

The unemployment rate for three months to July came in at 7.7 percent, down 0.1 percentage point from February to April period. The rate was slightly below the expected 7.8 percent.

Average earnings excluding bonus payments rose 1 percent during May to July compared with the same period a year earlier. Including bonus payments, earnings climbed 1.1 percent.

EUR/USD $1.3100, $1.3215, $1.3250, $1.3350

USD/JPY Y99.50, Y99.60, Y100.10, Y100.50, Y101.00, Y101.30

EUR/JPY Y132.00

EUR/GBP stg0.8400, stg0.8405, stg0.8420

USD/CHF Chf0.9275

EUR/CHF Chf1.2310

AUD/USD $0.9200, $0.9285, $0.9300

EUR/AUD A$1.4375

NZD/USD $0.7950

USD/CAD C$1.0400, C$1.0650

Asian stocks swung between gains and losses after President Barack Obama pulled the U.S. from the brink of a military strike against Syria. Energy producers led declines.

Nikkei 225 14,425.07 +1.71 +0.01%

Hang Seng 22,937.14 -39.51 -0.17%

S&P/ASX 200 5,234.39 +33.22 +0.64%

Shanghai Composite 2,241.27 +3.28 +0.15%

Inpex Corp., Japan’s biggest energy explorer, sank 3.4 percent after crude oil fell.

Newcrest Mining Ltd. dropped 3 percent in Sydney, pacing losses among gold producers after Goldman Sachs Group Inc. said the price of bullion will remain weak next year.

Yangzijiang Shipbuilding Holdings Ltd. jumped 5.6 percent in Singapore after Credit Suisse Group AG and DBS Group Holdings Ltd. raised ratings for the Chinese shipbuilder.

00:30 Australia Westpac Consumer Confidence September +3.5% +4.7%

The yen dropped to its lowest level in seven weeks after U.S. President Barack Obama called for a pause in authorizing military strikes on Syria, and a worldwide equity rally eroded demand for Japan’s currency as a haven. Obama said in a live broadcast from the White House he would prefer a peaceful solution to the Syrian conflict and that he saw “encouraging signs” of diplomacy ending the confrontation over the Bashar al-Assad regime’s alleged use of chemical weapons. He said he’s asked Congress to postpone a vote on a military strike.

The dollar rose against its major peers before Federal Reserve Bank of New York President William C. Dudley speaks tomorrow amid forecasts that policy makers will announce a slowing in bond purchases next week. The New York Fed’s Dudley said July 2 that economic growth will probably quicken in 2014, possibly warranting a reduction in bond purchases. The Fed is forecast to slow its monthly buying to $75 billion from the current $85 billion pace at its Sept. 17-18 meeting, according to the median estimate of economists surveyed by Bloomberg News on Sept. 6.

The pound traded near the highest since June before data estimated to show U.K. jobless claims fell for a 10th month. In the U.K., unemployment claims probably fell by 21,000 in August, following a 29,200 decline the previous month, according to a poll of economists before today’s report. The unemployment rate is forecast to remain at 7.8 percent, the lowest since November.

EUR / USD: during the Asian session the pair is trading around the $ 1.3260

GBP / USD: during the Asian session, the pair trading around the $ 1.5730

USD / JPY: during the Asian session the pair rose Y100.60

There is data on both sides of the Atlantic Wednesday, with the release of the UK employment data likely to be the stand out event. The European calendar gets underway at 0530GMT, when the French second quarter job creations numbers will cross the wires. At 0600GMT, German final August HICP data will be published. Analysts are looking for the rate to be unchanged on month and higher by 1.6% on the year. Further French data will be released at 0645GMT, when the July current account data will be released. At 0700GMT, European Commission President Jose Manuel Barroso will deliver the latest 'State of the Union' speech, talking at the European Parliament, in Strasbourg, France. At 0900GMT, Germany's opposition SPD shadow labour minister Klaus Wiesehuegel presents their labour policy program, in Berlin, as the campaign enters the final 10 days. Back in Europe, at 1700GMT, ECB Executive Board Member Joerg Asmussen is slated to speak in Berlin. Sovereign issuance sees Germany sell a new 10-year benchmark Aug 2023 Bund issue for up to E5.0bln. Italy plans to issue new 12-month BOT, maturing Sep 15, 2014 for E8.5bln and a new 3-month flexible T-bill, maturing Dec 13, 2013 for E3.0bln.

GOLD 1,364.80  -21.60 -1.56%

OIL (WTI) 107.25  -2.27 -2.07%

Nikkei 225 14,423.36 218,13 1,54%

Hang Seng 22,937.21 186,56 0,82%

S & P / ASX 200 5,201.17 19,70 0,38%

Shanghai Composite 2,237.98 25,47 1,15%

FTSE 100 6,583.99 +53.25 +0.82%

CAC 40 4,116.64 +76.31 +1.89%

DAX 8,446.54 +170.22 +2.06%

Dow +128.86 15,191.98 +0.86%

Nasdaq +22.84 3,729.02 +0.62%

S&P +12.36 1,684.07 +0.74%

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3265 +0,10%

GBP/USD $1,5732 +0,25%

USD/CHF Chf0,9348 +0,28%

USD/JPY Y100,38 +0,78%

EUR/JPY Y133,16 +0,86%

GBP/JPY Y157,90 +1,01%

AUD/USD $0,9309 +0,88%

NZD/USD $0,8064 +0,58%

USD/CAD C$1,0349 -0,20%

00:30 Australia Westpac Consumer Confidence September +3.5%

05:30 France Non-Farm Payrolls (Finally) Quarter II -0.2% -0.2%

06:00 Germany CPI, m/m (Finally) August 0.0% 0.0%

06:00 Germany CPI, y/y (Finally) August +1.5% +1.5%

08:00 China New Loans August 700 731

08:30 United Kingdom Average earnings ex bonuses, 3 m/y July +1.1% +1.0%

08:30 United Kingdom ILO Unemployment Rate July 7.8% 7.8%

08:30 United Kingdom Average Earnings, 3m/y July +2.1% +1.3%

08:30 United Kingdom Claimant count August -29.2 -21.2

08:30 United Kingdom Claimant Count Rate August 4.3% 4.3%

14:00 U.S. Wholesale Inventories July -0.2% +0.3%

14:30 U.S. Crude Oil Inventories September -1.8

15:30 United Kingdom MPC Member Miles Speaks

21:00 New Zealand RBNZ Interest Rate Decision 2.50% 2.50%

21:00 New Zealand RBNZ Press Conference

21:00 New Zealand RBNZ Rate Statement

23:50 Japan Core Machinery Orders July -2.7% +2.5%

23:50 Japan Core Machinery Orders, y/y July +4.9% +8.5%