The flash on Forex showed following updates for the day.
The strength of industrial growth will definitely expand the US growth level. US stocks and commodities are rallying but the USD is still loosing against EUR and weak currencies are expecting to do good business today.
These are the brief news updates in an instant, which are supposed to affect the Forex market and bring some fluctuations in the currency strength.
The sudden jump in US industrial produce of around 0.8 percent m/m in August revising the July production level to 0.1 percent, which was previously 0.5 percent.
The swollen production in auto sector of around 5.5 percent in August, with the 20.1 percent production in July, has been a good sign amidst the losses.
The manufacturing of old autos made profitable returns of 0.4 percent in August and 0.6 percent in July. The utilization of capacity has been increased further reaching the level of 69.6 percent crossing the past level of June 68.3 percent.
The US stocks continued its rise for a third day with the S&P500 putting in 1.5 percent to 1069 while the picky financials raise to 3.8 percent and stocks of energy leading with 2.7 percent, because oil prices rushed excessive than two percent. The Gold is doing good trading and sustained a good position in the market.
Although the stocks and commodities are doing quite well, still the US bonds and equities are struggling for survival, as there are frequent changes in the overnight Forex positioning.
The EUR/USD currency pair is continued to move up in the Forex market with EUR incessantly holding the strong position for last few days. Overnight Forex crossed the 1.47 level and this level has increased in the morning.
The drooping USD is giving base to the hopes of traders of weak currencies that the market will be suitable for weak currencies today.
The Bank of Japan improves the economic vision, because it became useful to maintain the benchmark of call rate at 0.1 percent last night. The JPY is standing behind EUR and USD but Asian market have done well in the yesterdayâ€˜s trading session.
Letâ€˜s wait for the todayâ€˜s Forex session and respective updates.
The article is giving fresh news of Forex market and the position of currency pairs in the trading session. This gives idea about the closing and opening spots of the currency at the Forex floor.
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