Due for release today there are JPY Tokyo National Consumer Price Index, FED National Activity Index, EUR German Consumer Price Index.
By Greg Secker
Sep 28
The Euro rose against the dollar after hitting an overnight low. The European Central Bank said private sector loans contracted for the second month and hit a record low of just 0.1% in August. Data from the national statistics office INSEE reported consumer sentiment index rose to -36 in September, confirming that the economy grew in the second quarter as French consumer morale hit a 19-month high. The Euro is down today from its open of 1.4688 and is currently at the 1.4603 level. The British pound continues to fall after Bank of England Governor Mervyn King’s bearish comments yesterday. Perceptions that the UK currency will be allowed to weaken to help the fragile British economy pushed market players to dump the pound. Cable has been having 3 days of consecutive losses and is currently down today, hovering at around the 1.5820 mark. The JPY has also had losses for the last two sessions, it opened at 89.62 today but is now down at 89.32.
