www.varengoldbankfx.com–Promotional Document Monday, September 15, 2014 Good morning from beautiful Hamburg and welcome to our first Daily FX Report for this week. On Sunday, Washington said that countries in the Middle East had offered their military help to join air strikes against Islamic State (IS) militants. Australia became the first country to detail troop numbers and aircraft to fight the militants. It said it would send a 600 strong force and eight fighter jets to the region. On Thursday, Kerry won already the backing for a “coordinated military campaign” from 10 Arab countries. Other countries, including France also might support the military offensive against the IS. Anyway , we wish you a success ful trading day and a ni ce start of the w eek! Market Review–Fundamental Perspective The European Central Bank expects the euro zone will return to modest growth in the third quarter but full year growth will be less than 1 percent. The EUR has experienced a sharp decline during the last weeks and months and fell under the level of 1.30 U.S. cents per EUR. In the U.K. Queen Elizabeth II has broken her silence over the Scottish independence vote, telling a member of the public on Sunday that she hoped Scots would think very carefully about the future when voting in a referendum that could break up the United Kingdom. Before a referendum on Scottish independence on Sept. 18, the GBP stayed lower following a decline last week. The GBP lost 0.2 percent and deprecia ted to $1.6241 after touching $1.6052 on Sept. 10, a level not seen since Nov. 15. In the U.S. the USD has risen as signs of a strengthening U.S. economy boosted speculation the Federal Reserve is moving closer to raising interest rates. Australia`s currency came in the cross hairs of sellers first thing on Monday , sliding to a fresh six-month low after a set of disappointing Chinese data weighed on already soft demand. This boosts the chances that the South Pacific nation`s policy makers will hold interest rates at a record low. Until recent weeks, Australia`s interest rates, which are the highest in the developed world after New Zealand, had allowed its currency to resist a rally in the dollar. The Australian dollar fell towards 90 U.S. cents, from around $0.9040 late in New York on Friday and is now traded at $0.9015. While the AUD is the only Group-of-10 currency to advance against the USD this year, its gain has eroded to 1.1 percent from 6.5 percent at the start of July.
