Asian Session – Euro consolidates gains at 10-month high
October 18, 2013 6:36 am
The Asian session on Friday was relatively quiet and most major currency pairs consolidated the prior day’s moves. Risk currencies rallied sharply against the US dollar on Thursday and held onto gains this morning.
Weighing on the dollar are expectations that the Federal Reserve will delay tapering as a result of the 16-day US government shutdown, which likely had an impact on the economy. Some estimates are for a 0.5% off fourth quarter GDP.
Meanwhile, investors will eagerly await economic data that was not released during the shutdown, especially the nonfarm payrolls. The September report is now scheduled to be released on Tuesday October 22nd and the October report is due on November 8.
The euro hovered close to a 10-month high of $1.3681 hit in the prior US session, remaining above $1.3663 throughout the Asian session. Sterling traded a 25-pip range close to yesterday’s high of $1.6171. Dollar pulled back slightly after yesterday’s tumble to 97.72, rebounding 0.3% .
The Asian session on Friday was relatively quiet and most major currency pairs consolidated the prior day’s moves. Risk currencies rallied sharply against the US dollar on Thursday and held onto gains this morning.
Weighing on the dollar are expectations that the Federal Reserve will delay tapering as a result of the 16-day US government shutdown, which likely had an impact on the economy. Some estimates are for a 0.5% off fourth quarter GDP.
Meanwhile, investors will eagerly await economic data that was not released during the shutdown, especially the nonfarm payrolls. The September report is now scheduled to be released on Tuesday October 22nd and the October report is due on November 8.
The euro hovered close to a 10-month high of $1.3681 hit in the prior US session, remaining above $1.3663 throughout the Asian session. Sterling traded a 25-pip range close to yesterday’s high of $1.6171. Dollar pulled back slightly after yesterday’s tumble to 97.72, rebounding 0.3% .
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