Euro Go To Increase in 3 Monthly. The euro continued to persist on the path to the third monthly increase in a row as the strengthening of Wall Street after the closure during a 2-day strike to demand the U.S. dollar as a safe haven. The euro also reap some buying support from investors made the Middle East and Asia. "Late last month, accompanied by full-back operation of the market has been a busy day, as traders try to catch them," said Camilla Sutton, chief currency strategist at Scotia Bank in Toronto. "The market is trying to add risk to the portfolio at this time."
However, the focus began to shift to investors seen U.S. jobs report in October, according to the Labor Department will continue to be released on Friday. Although previous storms have forced the government to suspend its activity for 2 days. While some analysts argue that the uncertainty presented by Spain and Greece still will limit any appreciation of the single currency.
Risk Currencies Stable Still In Positive Territory
Various risk currencies stable in positive territory on Wall Street propped up by sessions of positive economic data from Australia and Germany that supports the investor sentiment in the final trading month. However the report employment cost index and the Chicago PMI business barometer fell below estimates indicate release stimulus provided by the central bank is likely not large enough. In Australia, upbeat home construction permits by 7.8% well above the estimate of 1.1%, showing a solid rebound in the housing sector in Australia last year.
The housing sector has so far been a key factor of growth so that the increase in housing activity is a signal that the RBA is unlikely to cut rates before the end of the year, thus boosting performance AUDUSD pairing. Separately, German retail sales report also showed a positive surprise to 1.5% versus 0.4% previously, and managed to boost EURUSD testing 1.3000 psychological level. Reail upbeat sales for two consecutive months, indicating that German domestic consumers are still quite healthy despite a sharp weakening in the Euro zone. Moreover, we have previously got a report German consumer confidence hit a record highest since 2007. This condition is also confirmed that the German economy began to shift in the sustained growth of exports to more internal demand so as to assuage fears of recession in Germany due to the turmoil in the rest of Europe.
EURUSD fell after the Ecofin Teleconference
Data monthly U.S. jobs report scheduled to be released on Friday, despite earlier concerns that Hurricane Sandy may force the Labor Department to delay the release of U.S. jobs data. Reports hiring and the unemployment rate for the month of October will be the last work report before the U.S. elections on Tuesday. Labor Department officials said earlier this week that they intend to release a report on time, but they also said it is possible to delay the release of the data.
However, the focus began to shift to investors seen U.S. jobs report in October, according to the Labor Department will continue to be released on Friday. Although previous storms have forced the government to suspend its activity for 2 days. While some analysts argue that the uncertainty presented by Spain and Greece still will limit any appreciation of the single currency.
Risk Currencies Stable Still In Positive Territory
Various risk currencies stable in positive territory on Wall Street propped up by sessions of positive economic data from Australia and Germany that supports the investor sentiment in the final trading month. However the report employment cost index and the Chicago PMI business barometer fell below estimates indicate release stimulus provided by the central bank is likely not large enough. In Australia, upbeat home construction permits by 7.8% well above the estimate of 1.1%, showing a solid rebound in the housing sector in Australia last year.
The housing sector has so far been a key factor of growth so that the increase in housing activity is a signal that the RBA is unlikely to cut rates before the end of the year, thus boosting performance AUDUSD pairing. Separately, German retail sales report also showed a positive surprise to 1.5% versus 0.4% previously, and managed to boost EURUSD testing 1.3000 psychological level. Reail upbeat sales for two consecutive months, indicating that German domestic consumers are still quite healthy despite a sharp weakening in the Euro zone. Moreover, we have previously got a report German consumer confidence hit a record highest since 2007. This condition is also confirmed that the German economy began to shift in the sustained growth of exports to more internal demand so as to assuage fears of recession in Germany due to the turmoil in the rest of Europe.
EURUSD fell after the Ecofin Teleconference
Data monthly U.S. jobs report scheduled to be released on Friday, despite earlier concerns that Hurricane Sandy may force the Labor Department to delay the release of U.S. jobs data. Reports hiring and the unemployment rate for the month of October will be the last work report before the U.S. elections on Tuesday. Labor Department officials said earlier this week that they intend to release a report on time, but they also said it is possible to delay the release of the data.
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