By FX Empire.com
The Australian dollar gained against the greenback as Britain’s Guardian reported that France and Germany reached a deal to bolster the EFSF to 2 trillion euro ($1.75 trillion) as a part of a comprehensive plane that works to solve the Euro-Zone debt crisis, yet the news were not confirmed yet revived hopes for a deal next weekend summit.
Moreover, Australia’s currency (Aussie) rose versus the major currencies on speculation the growth outlook will attract foreign investment, while Speculation European leaders are closer to reaching agreement on a plan to stem the region’s debt crisis also supported Asian currencies.
On the contrary, the fears still dominate the market after the Moody’s Investors Service agency reduced Spain’s rating by two levels to A1 from Aa2, where Spain’s credit rating was cut for the third time since June of last year as Europe’s debt crisis threatens to engulf the nation.
On Thursday, the NAB quarterly business confidence is due from Australia at 00:30 GMT after it declined the previous reading to 6.0.
On Thursday at 12:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 404 thousand last week.
The Leading Indicators for September will released at 14:00 GMT and expected to slow to 0.2% from 0.3%. The Philadelphia Fed index is also due at 14:00 GMT and expected to improve to -9.5 from -17.5.
As for the Existing Home Sales for September it’s expected with a drop of 2.65% to 4.91 million from 5.03 million.
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