Forex: Monday's review
China Industrial Profits, Y/Y August +28.2%
In European session the Euro rose as market reacts to wire comments suggesting the ECB is considering restarting covered bond purchases.
Yesterday start the U.S. session was accompanied by a fall in the major currencies in Europe: the dollar, the pound and the franc, as in the past at the weekend meetings of finance ministers and the IMF, European leaders failed to introduce additional measures to stop the regional debt crisis. The leaders of Finland and the Netherlands said that they plan toincrease their commitments to rescue the funds of the euro area.
By the time the closing European stock markets, and growth of major benchmark indexes, the dollar, pound and franc rebounded.
EUR/USD: the pair rose.
GBP/USD: the pair rose and showed new weekly high at $1.5570
USD/JPY: yestherday the pair hold Y76.25-Y76.55.
Focus today Merkel to meet Papandrou in Berlin at 1800GMT; Slovenian parliament votes on EFSF before it is dissolved; Spain sells 3-/6-month T-bills for E2.5bln-E3.5bln; Austria Fin committee meets to consider EFSF Bill to go to Special Parliament session.