The Asian session on Thursday was relatively quiet, with little news and no key economic data releases. Investors are being cautious, waiting for signs of political compromise to end the US government shutdown.
Focus will be on some data releases in the upcoming European session. There will be a series of purchasing managers indices from the Eurozone countries and the UK and Eurozone-wide retail sales data. Expectations are that retail sales in the Euro zone rose 0.2 percent in August following a 0.1 percent gain in the previous month. This would bolster the euro.
The dollar continues to be the loser from the ongoing stalemate in Washington, and there are concerns over the looming debt limit due on October 17. Markets are reducing their tapering expectations, and this is hurting the US bond yields and the dollar.
The euro pushed higher in the Asian session, with EURUSD hitting a high of $1.3622 after opening in Asia at $1.3577. Also helping the euro was news on Wednesday that Italy’s Prime Minister Enrico Letta won a confidence vote in his government. The risk of early elections is gone now.
EURJPY opened in Asia at 132.17 and rose to a high of 133.01 yen.
GBPUSD hovered in a range between $ 1.6219 and$ 1.6240. Focus will be on UK services PMI data due later.
USDJPY move off Wednesday’s low of 97.13 and edged up to 97.77 yen. The pair fell sharply yesterday after disappointing US private jobs data from ADP, which came in lower than expected.
The Asian session on Thursday was relatively quiet, with little news and no key economic data releases. Investors are being cautious, waiting for signs of political compromise to end the US government shutdown.
Focus will be on some data releases in the upcoming European session. There will be a series of purchasing managers indices from the Eurozone countries and the UK and Eurozone-wide retail sales data. Expectations are that retail sales in the Euro zone rose 0.2 percent in August following a 0.1 percent gain in the previous month. This would bolster the euro.
The dollar continues to be the loser from the ongoing stalemate in Washington, and there are concerns over the looming debt limit due on October 17. Markets are reducing their tapering expectations, and this is hurting the US bond yields and the dollar.
The euro pushed higher in the Asian session, with EURUSD hitting a high of $1.3622 after opening in Asia at $1.3577. Also helping the euro was news on Wednesday that Italy’s Prime Minister Enrico Letta won a confidence vote in his government. The risk of early elections is gone now.
EURJPY opened in Asia at 132.17 and rose to a high of 133.01 yen.
GBPUSD hovered in a range between $ 1.6219 and$ 1.6240. Focus will be on UK services PMI data due later.
USDJPY move off Wednesday’s low of 97.13 and edged up to 97.77 yen. The pair fell sharply yesterday after disappointing US private jobs data from ADP, which came in lower than expected.
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