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24.09.2012 12:15

European session: the euro fell

 

 

Data
08:00 Germany IFO - Business Climate September 102.3 102.7 101.4
08:00 Germany IFO - Current Assessment September 111.2 111.0 110.3
08:00 Germany IFO - Expectations September 94.2 95.0 93.2

The euro fell against the dollar and the yen amid controversy in Germany and France on the start time of a single regulator of the banking sector in the eurozone.

German Chancellor Angela Merkel and French President Francois Hollande In the last weekend of negotiations failed to agree on the start time of a single regulator of the banking sector in the eurozone. F.Olland stands for "as quickly as possible activation" controller, while Merkel rejects those calls.

Well as the pressure on the single currency in the region has published statistics where German business confidence collapsed to a minimum for more than 2.5 years. Thus, the index of business sentiment IFO 101,4 versus 102.3 projected. Expectations index 93.2 vs 95.0 forecast. The current conditions index 110.3 versus 111.0 projected.

The Australian dollar fell against most major currencies, amid reports of further weakening of economic growth in China, which is the largest trading partner of Australia.


EUR / USD: during the European session the pair fell to $ 1.2895

GBP / USD: pair dropped to $ 1.6188

USD / JPY: the pair is trading in a narrow range with a slight decline


At 22:45 GMT New Zealand will report on the trade balance (for 12 months, from the beginning of the year) and the trade balance for August.

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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