Forex News | Currency News by Forexlive

WASHINGTON (MNI) – White House announced Wednesday night that after
consulting with Speaker of the House John Boehner, President Obama
agreed to shift his address on jobs and growth before a joint-session of
Congress to September 8. Obama had initially asked to address lawmakers
on Sept. 7, which coincides with a televised debate between Republican
presidential candidates. The following is the full text of the statement
by the White House:

“Today, the President asked to address the Congress about the need
for urgent action on the economic situation facing the American people
as soon as Congress returned from recess. Both Houses will be back in
session after their August recess on Wednesday, September 7th, so that
was the date that was requested. We consulted with the Speaker about
that date before the letter was released, but he determined Thursday
would work better. The President is focused on the urgent need to
create jobs and grow our economy, so he welcomes the opportunity to
address a Joint Session of Congress on Thursday, September 8th and
challenge our nation’s leaders to start focusing 100% of their attention
on doing whatever they can to help the American people.”

** Market News International Washington Bureau: 202-371-2121 **

[TOPICS: M$U$$$,MGU$$$,MAUDS$,MCU$$$]

The bids I mentioned earlier have managed to put a short-term base in place at 1.0670. AUD/JPY buying is now helping lift the AUD.

This is just slightly lower than expected 51.0.

Premier Wen is on the newswires saying that he sees no significant easing in imported inflation; that the higher Yuan is pressuring businesses; soft global demand also hurting exporters

Corporate sell orders are reported starting at 77.00.

Edit: I’m now hearing that the sell orders from Japanese corporates aren’t particularly heavy as many had sold yesterday, for month’s end.

Gold is trading quietly at $1831/oz.

The USD is enjoying a slight lift in early trade. Two of the major banks put out moderately USD-favourable reports overnight and that might have something to do with it but I’m not sure we can get too excited yet; the main USD pairs have only moved 15/20 pips.

I’m hearing of some decent two-way business here at 1.4360, not sure which direction the buyers/sellers are coming from.

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