British MPs rejected a motion in favour of committing military resources in Syria, and this has weighed down on crude prices as the U.S. struggles to put together an international coalition. Meanwhile, France called for an emergency session of its National Assembly on Wednesday. Many are interpreting the move as a sign of a looming start to war. Moscow has reaffirmed its support for Damascus by dispatching warships to the Mediterranean.
Markets remain nervous as we start September, historically the worst month on the calendar for stock markets. August was no picnic either, with markets seeing their worst monthly performance in some time. The upgrade to U.S GDP data and Initial Jobless Claims being in line with anticipations provided support for the greenback and equities, which gained ground.
Major economic indicators are expected today. U.S. Personal Income and Spending data, the Chicago Purchasing Managers Index and the University of Michigan Consumer Sentiment Index will all be released this morning. Canadian GDP figures could also trigger volatility for the loonie. We will also be paying attention to comments by St. Louis Fed President James Bullard, which will naturally have an impact on bond yields. Emmanuel Tessier-Fleury
Range of the day: 1.0485 - 1.0585
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NBC Daily Forex : August 30, 2013
Published 09/01/2013, 04:02 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : August 30, 2013
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