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EUR/USD and AUD/USD Update – European Stocks Climb as U.S. Delays Decision on Syria



Good day forex traders and readers.

A look across the markets at the moment suggests that risk appetite is strong. Both the EUR/USD and AUD/USD are bullish for the week. Many experts attribute this current sentiment as a withdrawal of risk aversion. The possibility of a military escalation regarding Syria is lower now as negotiations continue.

Continue to monitor the sentiments closely for clues to currency movements. Find below an article from Bloomberg regarding European stocks rallying as risk aversion subsides.

European stocks rose for a second day, extending a three-month high, as U.S. President Barack Obama postponed a decision on military action against Syria.

ARM Holdings Plc, which designs chips for Apple Inc.’s iPhones, extended a three-month high after the U.S. company unveiled two new models of the device. EON SE and RWE AG led a gauge of utilities higher. Kingfisher Plc retreated 2.4 percent after first-half pretax profit missed analysts’ estimates.

The Stoxx Europe 600 Index rose 0.2 percent to 310.49 at 2:26 p.m. in London . The benchmark gauge has climbed 4.4 percent in September as Chinese manufacturing, industrial production and retail sales increased.

“Equity markets have had a good run so far this month,” Stewart Richardson, who helps oversee about $100 million as chief investment officer at RMG Wealth Management LLP said by phone. “The recent run of upward closes has been helped by good Chinese data and the lessening of the threat in Syria . Markets need a new catalyst, and may drift sideways towards the Federal Reserve meeting next week.”

The Stoxx 600 has rallied 11 percent this year as central banks around the world maintained stimulus measures and the global economy showed signs of recovery. The index had declined 11 percent from May 22 through June 24 after the Fed said it may start reducing the pace of asset purchases if the economy improves in line with its forecasts. Federal Open Market Committee officials hold their next meeting on Sept. 17-18. Volume Gains

The volume of shares changing hands in Stoxx 600-listed companies was 27 percent higher than the 30-day average today, data compiled by Bloomberg show.

Obama said yesterday in an address from Washington that he will pursue a proposal by Russia to have Syria surrender its stockpiles of chemical weapons […]

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