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11 Sep 2013
Session Recap: Majors consolidate, Sterling outperforms
FXstreet.com (Córdoba) - FX market remains in a consolidative stage Wednesday, with the main exception of the Pound. GBP/USD reached a 7-month high against the dollar at 1.5825, as employment data from the UK came in better-than-expected.
The unemployment rate in the three months to July fell to 7.7% from 7.8%, fueling expectations of a hike in interest rates would come sooner than expected. The Bank of England has set a 7% unemployment threshold before it considers a interest rate hike.
Meanwhile, the EUR/USD was little changed around 1.3260 having failed once again to break above the 1.3280 resistance area. The USD/JPY traded flat around 100.30 while the Australian dollar continued to rise, hitting its highest level in 7 weeks at 0.9318.
Elsewhere, the easing of tensions regarding a possible US military strike in Syria boosted sentiment across markets, weighing on safe-haven currencies.
Main Headlines in Europe:
Risk-appetite hits the “on” button
Germany: Annual CPI grows 1.5% in August
Global equities pointing higher, EUR/USD clings to recent gains
Flash: What lies ahead of the EUR/USD? – Commerzbank and OCBC Bank
Commodities on a sharp fall as Syria’s jitters wane
Barroso calls for quick implementation of Eurozone banking union
UK: Claimant Count Change down 32.6K in August
UK: CB Leading Economic Index rises 0.7% in August
Obama opts for diplomacy in Syria
The unemployment rate in the three months to July fell to 7.7% from 7.8%, fueling expectations of a hike in interest rates would come sooner than expected. The Bank of England has set a 7% unemployment threshold before it considers a interest rate hike.
Meanwhile, the EUR/USD was little changed around 1.3260 having failed once again to break above the 1.3280 resistance area. The USD/JPY traded flat around 100.30 while the Australian dollar continued to rise, hitting its highest level in 7 weeks at 0.9318.
Elsewhere, the easing of tensions regarding a possible US military strike in Syria boosted sentiment across markets, weighing on safe-haven currencies.
Main Headlines in Europe:
Risk-appetite hits the “on” button
Germany: Annual CPI grows 1.5% in August
Global equities pointing higher, EUR/USD clings to recent gains
Flash: What lies ahead of the EUR/USD? – Commerzbank and OCBC Bank
Commodities on a sharp fall as Syria’s jitters wane
Barroso calls for quick implementation of Eurozone banking union
UK: Claimant Count Change down 32.6K in August
UK: CB Leading Economic Index rises 0.7% in August
Obama opts for diplomacy in Syria