ForexLive North American wrap: Crisis Averted

Monti: Financial crisis is over - SKYTG24 Monti: Economic crisis ongoing All 12 districts see growth in Fed's Beige Book US inflation at 1.7% compared to 1.8% exp Australians cut back consumer spending, increase drinking US industrial production up 0.3%, as expected NAHB homebuilder sentiment 47 vs 48 exp Flaherty cautions on Canadian economy SIFMA roundtable downgrades US economic forecast ECB's Asmussen: Tail risks have lessened–BBG Militants capture at least 41 western hostages in Algeria after French Mali raids Sea piracy falls to five year low S&P 500 flat at 1472 JPY leads, GBP lags Ho hum session for the euro as bids ahead of 1.3250 easily shielded EUR/USD early in the day. It climbed back over 1.3311 but remained within the European range. Traders report buy stops above 1.3330 USD/JPY climbed throughout US trading after hitting 87.80 early in Europe. The high so far is 88.68 but it has edged back to 88.40. Buy stops above 88.75/85 with offers in the 89.00/10 range. Bids at 87.75. USD/CAD touched the highs of the week at 0.9877 then drifted back to 0.9850. Boring pair, bids at 0.9820, which feels like a million miles away. AUD/USD quietly having an upbeat session. Slow one-way slog from 1.0536 to 1.0570 ahead of today's employment report. EUR/CHF consolidating the recent gains. An attempt at 1.24 was snuffed out and the pair is back to 1.2372. Cable broke 1.60 in Europe, bounced as high as 1.6015 and is now hanging around the big figure. Gold $1680.