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11 Feb 2014
European open: Light European data ahead of Yellen testimony
FXStreet (London) - Japanese markets were closed overnight for a national holiday, meaning a subdued session.
The Aussie dollar rallied to a four-week high on stronger-than-expected numbers.
Seasonally-adjusted figures from the Australian Bureau of Statistics showed that house prices in Australia jumped by 9.3 percent in the fourth quarter of 2013 quarter-on-quarter, the biggest increase in more than three years.
In addition, the business confidence index released by the National Australia Bank rose from +6 to +8 wile its business conditions index rose from +3 to +4.
Today sees another very light day of data in Europe, with the majority of market focus on Janet Yellen’s testimony before congress in her first semi-annual appearance as FOMC chairman. Yellen’s appearance before the House Financial Services Committee follows two straight months of disappointing jobs numbers while the Fed is moving to taper its quantitative easing programme by USD10bn a month, scheduled to wind up the now USD65bn a month programme by the end of 2014.
The Aussie dollar rallied to a four-week high on stronger-than-expected numbers.
Seasonally-adjusted figures from the Australian Bureau of Statistics showed that house prices in Australia jumped by 9.3 percent in the fourth quarter of 2013 quarter-on-quarter, the biggest increase in more than three years.
In addition, the business confidence index released by the National Australia Bank rose from +6 to +8 wile its business conditions index rose from +3 to +4.
Today sees another very light day of data in Europe, with the majority of market focus on Janet Yellen’s testimony before congress in her first semi-annual appearance as FOMC chairman. Yellen’s appearance before the House Financial Services Committee follows two straight months of disappointing jobs numbers while the Fed is moving to taper its quantitative easing programme by USD10bn a month, scheduled to wind up the now USD65bn a month programme by the end of 2014.