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Forex pairs in this Article » EUR/USD (San Francisco) - The US dollar trader lower on Wednesday mainly affected by weaker than expected ADP employment report and news from Europe where ECB's Mario Draghi maintained the status quo and Italy's Letta won Senate's confidence vote.

The EUR/USD tasted the 1.3600 area with a multi-month high of 1.3605 and it closed the day at 1.3580. Going to Asian session, the EUR/USD presents a positive tone in the 4 hours chart "although lacking bullish momentum after latest consolidative stage," pointed Valeria Bednarik, Chief Analyst. "A price acceleration above 1.3620 is now required to confirm a new leg higher towards this year high of 1.3710."

The GBP/USD advanced for fourth day in a row and tested for second session the 1.6250 area. The Sterling to Dollar exchange rate closed the day at 1.6225. USD/JPY collapsed to 2-month lows at 97.13, now the pair wrapped up the session at 97.35.

The NZD/USD is finished the session with a strong note at 0.8325, 0.60% positive on the day, and "NZD could be a big move today as Wheeler said a rate hike of over 2% may be required from 2014 until 2016 to cool down housing bubble," according to a recent news from the Asian team head Ivan Delgado.

Reserve Bank of New Zealand's governor Wheeler said their "concern is that excessive increases in house prices in parts of the country, if unchecked, pose increasing risk for the financial system and the broader economy." The Speech "has further alimented the suspicion that the RBNZ is in for something big, but most importantly, still not fully priced by the market," commented Delgado.

Main headlines in the American session:

US: ADP Employment Change rose to 166K in September

Draghi confirms ECB ready to provide cheap loans for banks

Italian PM wins vote of confidence but Berlusconi threat remains

US: ISM New York Index down to 53.6 in September

Boehner, Obama and Capitol Hill leaders to meet today at the White House

Wall Street closed lower despite its late recovery

Wall Street should be concerned about the shutdown, Obama says

RBNZ warns rates in New Zealand heading much higher
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