Euro Climbs as Investor Survey Surges, Italy Vote Uncertain EURUSD offered up biggest rally three weeks. And while this benchmark ‘major’ certainly found its contribution from the dollar slip, the market-wide gains from the FX market’s second most liquid currency spoke to an inherent performance. From the docket, the headline-friendly release was the September Sentix investor confidence survey for the Eurozone. The indicator delivered a surprise positive reading (6.5) which was the highest level for the series since May 2011. This is an encouraging read against the backdrop of Greece, Cyprus, Italy and other uncertainties. Meanwhile, the Italian Senate’s debate on whether to expel PDL party leader Silvio Berlusconi for a tax fraud conviction passed a first day without a conclusion. The group will deliberate again Tuesday at 18:00 GMT with a PDL ally threatening to bring down Italy’s coalition government without a potentially months-long delay for an appeal. Another event to watch will be the medium-term EFSF bond auction.
Posted on: Tue, 10 Sep 2013 06:07:02 +0000
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