The Swiss franc and the yen, which tend to benefit in times of financial uncertainty, rose. The euro was down 0.7 percent at 131.82 yen having earlier fallen to a three-week low of 131.385 yen. The single currency fell 0.2 percent versus the franc at 1.2225, off a low of 1.2215 francs, its weakest since early May. It was down 0.3 percent at $1.3488. The euro was http://www.etftradingsignals.com weighed down by an increasingly volatile Italian political crisis after Silvio Berlusconi pulled his ministers out of the government on Saturday and called for new elections, just seven months after the last vote.
Forex - AUD/USD slips lower in cautious trade
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Fed asset purchases weaken the dollar by driving down interest rates to spur recovery, and talk of their dismantling can bolster the greenback. Elsewhere, the euro found support on reports that Italy's Silvio Berlusconi was battling dissent within his own political party after he announced Saturday that he was pulling his ministers out of Prime Minister Enrico Letta's coalition government and called for fresh elections. Prime Minister Letta is going before parliament for a vote of confidence on Wednesday and will need to secure a majority to remain on in government. Separately, data released on earlier showed that the euro zone's consumer price index rose at the slowest pace since February 2010 in September, sliding to 1.1% from 1.3% in August, which capped the euro's advance against the greenback. Analysts were expecting a 1.3% reading. Core CPI, which excludes food, energy, alcohol, and tobacco costs slowed to 1.0% from 1.1% in August, missing market calls for an unchanged 1.1% reading.
Forex - Pound steady at 8-month highs vs. dollar
budget concerns persisted. AUD/USD hit 0.9281 during late Asian trade, the pair's lowest since September 13; the pair subsequently consolidated at 0.9307, easing 0.09%. The pair was likely to find support at 0.9224, the low of September 13 and resistance at 0.9402, the high of September 26. In China, data showed that the HSBC manufacturing index was revised down to 50.2 from an initial reading of 51.2, indicating the recovery in the world's second largest economy remains fragile.
Forex - Dollar softens but trims losses on U.S. government shutdown woes
Asia Pacific stock indexes turned South in light of the political developments in the US. The short-term outlook for the Foreign Currencies is sideways. The medium-term outlook for most Foreign Currencies is slightly Bullish. TheHeffX-LTN short-term model is Long all Foreign Currencies. Paul Ebeling Pattern Recognition Analyst, equities, commodities, forex Sign Up today at www.heffx.com for premium commentary.
Republican opposition to the funding of the Affordable Care Act has created a standoff with the White House and the Democratic-controlled Senate, which have both said they will not support any budget bill that defunds or amends Obamacare. Market sentiment was also hit after data on Monday showed that China's HSBC manufacturing index was revised down to 50.2 from an initial reading of 51.2 this month, indicating that the recovery in the world's second largest economy remains fragile. Economists had expected an unchanged reading. Demand for sterling continued to be underpinned after Bank of England Governor Mark Carney said last week that he did not see a case for further quantitative easing. The pound showed little reaction after data released on Monday showed that U.K. net lending rose in line with expectations in August, while mortgage approvals rose more than expected.