Asian session: The euro strengthened
07:30 Swiss SNB press-conference 0.00-0.25%
08:30 UK Retail sales (August) -0.2%
08:30 UK Retail sales (August) Y/Y 0.0%
09:00 EU(17) Harmonized CPI (August) final 0.2%
09:00 EU(17) Harmonized CPI (August) final Y/Y 2.5%
09:00 EU(17) Harmonized CPI ex EFAT (August) Y/Y 1.2%
The euro strengthened for a second day against the yen and the dollar after French President Nicolas Sarkozy and German Chancellor Angela Merkel said they are “convinced” Greece will stay in the currency union.
The International Monetary Fund, European Central Bank and European Commission representatives will visit Greece this week and later make a recommendation on the release of further loans to the nation.
The euro rose after Spain sold almost all the debt on offer at an auction today.
Spain sold 3.95 billion euros of bonds due in 2019 and 2020, the central bank said, compared with a maximum target of 4 billion euros. The debt due in October 2020 was sold to yield an average 5.156 percent, compared with 5.2 percent when it was last auctioned
The franc weakened against the euro after the Swiss National Bank said it is ready to take further steps to stop the currency from gaining.
EUR/USD: the pair rose above $1.3800.
GBP/USD: the pair rose above $1.5800.
USD/JPY: the pair fell in Y76.60 area.
In second half of the day focus will be on the following data: Jobless claims for Sep 10 wk (12:30 GMT, Est 415k), Aug CPI (12:30 GMT, Est +0.2%/+0.2%), Aug IP/CapU (13:15 GMT, Est +0.1% IP for 77.5% CapU).