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07.11.2011 08:57

Asian session: The franc declined to a two-week low

00:30 Australia ANZ Job Advertisements (MoM) October -0.3%


The franc declined to a two-week low against the euro on speculation the Swiss National Bank will further limit the strength of its currency. Switzerland’s franc fell versus all major peers after SNB President Philipp Hildebrand said the central bank expects it to weaken further, adding to bets the bank will adjust the cap of 1.20 francs per euro set on Sept. 6.  Losses in the 17-nation currency were limited after Greek Prime Minister George Papandreou agreed to step down to allow the creation of a national unity government.

Greek Prime Minister George Papandreou agreed to step down to allow the creation of a national unity government intended to secure international financing and avert a collapse of the country’s economy. Papandreou met with Antonis Samaras, leader of the main opposition party, and agreed to form a government to lead Greece “to elections immediately after the implementation of European Council decisions on October 26,” according to an e-mailed statement yesterday from the office of President Karolos Papoulias in Athens. Papandreou already stated he won’t lead the new government, the statement said.


EUR/USD: on Asian session the pair fell.

GBP/USD: on Asian session the pair decreased.

USD/JPY: on Asian session the pair holds in range Y78.05-Y78.20.


On Monday at 05:45 GMT Switzerland will publish data on a rate of unemployment for October (decrease to 0.2 % against 0.3 % the last month is expected). At 06:00 GMT in Britain there will be a price index on habitation from HBOS for October (growth on 0.1 % against falling on 0.5 % the last month is expected). At 07:15 GMT Switzerland will publish data on inflation. At 08:00 GMT the meeting of ministerial council of the finance of the countries of the European Union (ECOFIN) will begin. At 09:00 GMT in an eurozone there will be data on change of retail trade for September. At 10:00 GMT Germany will report on change  of industrial production for September. At 23:01 GMT Britain will publish data of the monitor of retails BRC and balance of the prices for habitation from RICS for October. At 23:30 GMT in Australia there will be data on balance  of foreign trade for September.

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