ForexLive US wrap: Risk off retreat; USD firm
Canadian retail sales rise 0.3% in August
Bernanke not to seek third term as Fed chair: NYT
BOC maintains tightening bias; leaves rates unchanged
Belgian business confidence falls to 3 year low of -13.5 in October from -11.6 in September; suggests weak Ifo on Wednesday
ECB's Coeure: Rate cut remains an option; OMT bond buying subject to conditions
Richmond Fed index falls to -7 in October from +4 in September
Euro zone consumer confidence -25.6 in Oct from -25.9 in Sept
ECB's Knot: ECB took lessons from previous bond-buying failures
Greece's Venizelos supports government but opposes labor reforms
Democratic Left's Kouvelis: Will not vote for labor reforms as they stand now
Greek PM Samaras: Talks on labor issues continue
King comments on UK recovery; fears it won't last. UK faces prolonged adjustment
Nikkei: BOJ expected to ease at next board meeting
MNI reports Greece to get two more years to repay bailout debt
S&P 500 falls 1.4%
US 10-year note yield falls 5.4 bp to 1.76%
EUR/USD fell as low as 1.2950 as the European session drew to a close as equity jitters related to poor earnings reports, Spanish foot-dragging on seeking a bailout and talk that Bernanke will retire at the end of his term helped boost the greenback broadly.
EUR/USD rebounded modestly late in the session, helped by a small rebound from US equities and reports that Greece will be given an extra two-years to payback its bailout loans.
USD/JPY slipped on profit-taking intraday but found waiting dip buyers at 79.70. We retested the 80.00 neighborhood late in the session as the Nikkei reported that the BOJ is expected to act at the next meeting.
USD/CAD slumped after the BOC's Carney reiterated a tightening bias, an effort to reduce a personal debt bubble that is inflating in Canada. We slumped from 0.9965 to 0.9900 on the news instantly but recouped a little lost ground as oil fell over $3 at points, touching the $85 handle at one point intraday.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.