12, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar and the Japanese yen fell as there were signs that the military action in Syria may be avoided which prompted investors to sell the traditional safe-haven currency.

U.S. President Barack Obama has agreed to consider the plan proposed by Russia when Syria will give its chemical weapons under international control in order to avoid military attack by the United States. This temporarily reduced investors' concerns about the conflict in the Middle East. Euro, British pound and Australian dollar rose as traders sold the U.S. dollar and the yen, safe-haven currencies popular in times of uncertainty.

The volume index of industrial production in France in July fell by 0.6% compared to the previous month. These data were provided by the National Statistics Office Insee. Analysts, however, forecast a rate increase of 0.6%. Decline in industrial production suggests that the recovery of the second largest economy in the euro area is not very high rates, experts say.

The economy of the United Kingdom is rapidly growing, as it seen by the dynamics of business activity. Employment is higher than wherever in the euro area and the capital of the British stock market, according to Goldman Sachs, is attracted easier, including the effect of territorial integrity. These factors suggest that Britain has less need to encourage in the monetary area than the continental Europe.