Asian session: The euro rose
01:30 Australia Job Vacancies August +3.2%
The euro rose toward a one-week high versus the dollar amid speculation German lawmakers will approve the expansion of a bailout fund for debt-stricken euro- area nations to help contain the sovereign-debt crisis.
The 17-nation currency strengthened against 12 of its 16 major counterparts as German Chancellor Angela Merkel attempts to win the backing of her coalition to expand the powers of the European Financial Stability Facility. The vote in Berlin on changes to the EFSF would allow the fund to buy the bonds of distressed member states and offer emergency loans to governments, raising Germany’s guarantees to 211 billion euros from 123 billion euros. The main opposition Social Democrats and Greens have said they will vote with Merkel’s government, assuring passage.
EUR/USD: on asian session the pair gain.
GBP/USD: on asian session the pair gain. USD/JPY: on asian session the pair hold Y76.50. Focus today German lower house votes on 'EFSF' ratification from 0700GMT, Italy medium-long BTP bond auctions for up to E9.0bln. Later Eurozone Economic sentiment index September and Business climate indicator SeptemberIn American session Canada Raw Material Price Index August and Industrial product prices AugustU.S. Initial Jobless Claims Week of September and Final GDP Quarter II