EUR/USD
The euro traded higher against the U.S. dollar Tuesday, as upbeat U.S. economic data and bullish commentary from Germany's finance minister helped lift single currency sentiment but ongoing Spanish woes kept gains in check. The pair pulled away from 1.2888 the pair's lowest since September 13, to hit 1.2943 during U.S. afternoon trade, climbing 0.10%. Single currency sentiment was lifted following comments by German Finance Minister Wolfgang Schauble, who said European policymakers should do everything in their power to protect the single currency, adding that defending the euro was "worth any effort". Risk appetite found support after a report by the Conference Board said that its U.S. consumer confidence index rose to a seven-month high of 70.3 this month, compared to expectations for a reading of 63.0. Meanwhile, Spain saw borrowing costs rise at an auction of short-term debt on Tuesday, reflecting lingering uncertainty over whether Madrid will request a full scale sovereign bailout.
EUR/USD" title="EURUSD" width="600" height="300" />
GBP/USD
The pound rose toward a one-year high against the dollar after an industry report showed U.K mortgage approvals increased last month, adding to signs the nation’s economy is improving. Sterling also gained versus the yen as draft guidelines for Europe’s permanent rescue fund, the European Stability Mechanism, showed it will invest in a broad range of assets, reducing the chance that contagion will hurt the U.K. economy. A U.K. report last week showed the budget deficit was smaller than economists forecast. Gilts were little changed. The U.K. currency appreciated 0.2 percent to $1.6241 after climbing to $1.6309 on Sept. 21, the highest since Aug. 31, 2011.U.K. mortgage approvals climbed to 30,533 last month, the most since April, from 28,750 in July, the British Bankers Association said. The budget deficit excluding government support for banks was 14.4 billion pounds last month, the Office for National Statistics said on Sept. 21.
GBP/USD" title="GBPUSD" width="600" height="300" />
USD/JPY
The U.S. dollar slipped against the yen on, to trade at a seven-day low, as concerns over the worsening of the debt crisis in the euro zone continued to weigh on market sentiment. The pair hit 77.74 during European morning trade, the pair's lowest since September 14; the pair subsequently consolidated at 77.76, edging down 0.12%. Market sentiment weakened after a drop in German business sentiment to its lowest since early 2010 stoked concerns on Monday about a slowdown in the euro zone's largest economy, despite the European Central Bank's recently announced bond-buying plan. Meanwhile, Spain also remained in focus amid fears the country is dragging its feet in requesting the international bailout that most market participants expect. On Thursday Madrid is to present its draft budget for next year and announce structural reforms, while the results of bank stress tests are due on Friday. In addition, ratings agency Moody’s is expected to complete a ratings review on Spain later this week.
USD/JPY" title="USDJPY" width="600" height="300" />
USD/CAD
Canada’s dollar fell with crude oil and stocks after Federal Reserve Bank of Philadelphia President Charles Plosser said the Fed’s new bond-buying program probably won’t boost economic growth in Canada’s largest trading partner. The Canadian currency declined against the majority of its most-traded counterparts amid speculation a political clash in Spain may impede attempts to resolve the region’s debt crisis, damping demand for higher-yielding assets. The so-called loonie gained earlier against its U.S. peer as Canadian retail sales rose faster in July than economists forecast. A report due Sept.28 is forecast to show Canada’s gross domestic product grew at 0.1 percent pace in July, down from 0.2 percent in June. The loonie, as the Canadian currency is known for the image of the aquatic bird in the C$1 coin, declined 0.2 percent to 98.06 cents per U.S. dollar in Toronto. The currency has gained 0.6 percent this month and 3.7 percent this quarter.
USD/CAD" title="USDCAD" width="600" height="300" />
The euro traded higher against the U.S. dollar Tuesday, as upbeat U.S. economic data and bullish commentary from Germany's finance minister helped lift single currency sentiment but ongoing Spanish woes kept gains in check. The pair pulled away from 1.2888 the pair's lowest since September 13, to hit 1.2943 during U.S. afternoon trade, climbing 0.10%. Single currency sentiment was lifted following comments by German Finance Minister Wolfgang Schauble, who said European policymakers should do everything in their power to protect the single currency, adding that defending the euro was "worth any effort". Risk appetite found support after a report by the Conference Board said that its U.S. consumer confidence index rose to a seven-month high of 70.3 this month, compared to expectations for a reading of 63.0. Meanwhile, Spain saw borrowing costs rise at an auction of short-term debt on Tuesday, reflecting lingering uncertainty over whether Madrid will request a full scale sovereign bailout.
EUR/USD" title="EURUSD" width="600" height="300" />GBP/USD
The pound rose toward a one-year high against the dollar after an industry report showed U.K mortgage approvals increased last month, adding to signs the nation’s economy is improving. Sterling also gained versus the yen as draft guidelines for Europe’s permanent rescue fund, the European Stability Mechanism, showed it will invest in a broad range of assets, reducing the chance that contagion will hurt the U.K. economy. A U.K. report last week showed the budget deficit was smaller than economists forecast. Gilts were little changed. The U.K. currency appreciated 0.2 percent to $1.6241 after climbing to $1.6309 on Sept. 21, the highest since Aug. 31, 2011.U.K. mortgage approvals climbed to 30,533 last month, the most since April, from 28,750 in July, the British Bankers Association said. The budget deficit excluding government support for banks was 14.4 billion pounds last month, the Office for National Statistics said on Sept. 21.
GBP/USD" title="GBPUSD" width="600" height="300" />USD/JPY
The U.S. dollar slipped against the yen on, to trade at a seven-day low, as concerns over the worsening of the debt crisis in the euro zone continued to weigh on market sentiment. The pair hit 77.74 during European morning trade, the pair's lowest since September 14; the pair subsequently consolidated at 77.76, edging down 0.12%. Market sentiment weakened after a drop in German business sentiment to its lowest since early 2010 stoked concerns on Monday about a slowdown in the euro zone's largest economy, despite the European Central Bank's recently announced bond-buying plan. Meanwhile, Spain also remained in focus amid fears the country is dragging its feet in requesting the international bailout that most market participants expect. On Thursday Madrid is to present its draft budget for next year and announce structural reforms, while the results of bank stress tests are due on Friday. In addition, ratings agency Moody’s is expected to complete a ratings review on Spain later this week.
USD/JPY" title="USDJPY" width="600" height="300" />USD/CAD
Canada’s dollar fell with crude oil and stocks after Federal Reserve Bank of Philadelphia President Charles Plosser said the Fed’s new bond-buying program probably won’t boost economic growth in Canada’s largest trading partner. The Canadian currency declined against the majority of its most-traded counterparts amid speculation a political clash in Spain may impede attempts to resolve the region’s debt crisis, damping demand for higher-yielding assets. The so-called loonie gained earlier against its U.S. peer as Canadian retail sales rose faster in July than economists forecast. A report due Sept.28 is forecast to show Canada’s gross domestic product grew at 0.1 percent pace in July, down from 0.2 percent in June. The loonie, as the Canadian currency is known for the image of the aquatic bird in the C$1 coin, declined 0.2 percent to 98.06 cents per U.S. dollar in Toronto. The currency has gained 0.6 percent this month and 3.7 percent this quarter.
USD/CAD" title="USDCAD" width="600" height="300" />