Asian session: the euro climbed

The euro climbed after a report in La Stampa that the International Monetary Fund is preparing a 600-billion euro ($794 billion) loan for Italy in case the country’s debt crisis worsens. The Italian daily didn’t say where it got the information.

The 17-nation currency jumped to $1.3333 as of 7:56 a.m. in Sydney from $1.3239 in New York on Nov. 25.

German Finance Minister Wolfgang Schaeuble said that European governments are struggling to enact a pledge to beef up the euro rescue fund, as he called for fast- track treaty changes to tighten budget discipline as the key to calming markets.

Schaeuble, in an interview with ARD television in Berlin, said that the European Financial Stability Facility recently paid a higher rate of interest on debt than France or the other AAA rated countries that guarantee the EFSF, underscoring the “crisis of confidence” in the euro area. The “decisive” answer remains budget discipline enforced by means of European Union treaty change, he said.

New Zealand’s dollar rose against its 16 major peers after Prime Minister John Key was re-elected with his party’s biggest mandate in 60 years, strengthening his ability to balance the budget.

The so-called kiwi climbed along with Australia’s dollar on speculation European leaders may be working on a fast-track solution to the region’s debt crisis and after reports the International Monetary Fund may consider aid for Italy. Both South Pacific nations’ currencies were bolstered as Asian stocks rose for the first time in four days, spurring demand for higher-yielding assets.

EUR/USD: on Asian session the pair traded in a range $1.3275-$ 1.3335.

GBP/USD: on Asian session the pair traded in a range $1.5465-$ 1.5525.

USD/JPY: on Asian session  the pair gain.

On Monday at 09:00 GMT the Eurozone will publish change of  M3 Money Supply for October. At 11:00 GMT in Britain there will be a statistics on CBI Realized Sales for November. At 13:00 GMT Germany will publish a preliminary consumer price index for November. At 15:00 GMT in the USA there will be data on New Home Sales for October. Japan at 23:30 GMT will report about change of Household spending, and at 23:50 GMT - about change of Retail sales for October.