The EUR/USD added 13 points on a dip in the US dollar which had soared to a new short term high on positive economic data. The dollar gave back a bit of
The EUR/USD added 13 points on a dip in the US dollar which had soared to a new short term high on positive economic data. The dollar gave back a bit of its gains as the Federal Reserve meeting started. The DX is down 22 points at 97.06. There is little on the calendar from Europe today so prices are expected to remain sideways ahead of tomorrows Fed statement. The euro is trading just at 1.10.
The dollar is down slightly against all of its major rivals Monday afternoon, but is little changed overall. There has been no US economic data to drive trading today and very little global economic data at the start of the new trading week. However, a large number of important US reports are coming later this week.
New home sales and consumer confidence data are scheduled for Tuesday, while durable goods orders and pending home sales are slated for Wednesday. Weekly jobless claims and international trade are due out Thursday, while GDP and consumer sentiment are coming on Friday.
In addition to this upcoming data deluge, investors are awaiting Wednesday’s announcement from the Federal Reserve. The Fed is widely expected to leave interest rates unchanged as officials wait to see the fallout from Britain’s vote to leave the EU.
The central bank’s accompanying statement is still likely to be in focus, as investors attempt to gauge the outlook for the next rate hike.
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Upcoming Economic Events that you should be monitoring:
Wednesday, July 27, 2016
Country | Name | Volatility | Previous |
AUD | Consumer Price Index (QoQ) | 3 | -0.2 |
AUD | RBA trimmed mean CPI (YoY) | 3 | 1.7 |
AUD | Consumer Price Index (YoY) | 3 | 1.3 |
AUD | RBA trimmed mean CPI (QoQ) | 3 | 0.2 |
EUR | Gfk Consumer Confidence Survey | 2 | 10.1 |
GBP | Gross Domestic Product (YoY) | 2 | 2 |
GBP | Gross Domestic Product (QoQ) | 2 | 0.4 |
USD | Durable Goods Orders | 3 | -2.2 |
USD | Durable Goods Orders Core | 3 | -0.3 |
USD | Pending Home Sales (YoY) | 2 | 2.4 |
USD | Pending Home Sales (MoM) | 2 | -3.7 |
USD | Fed’s Monetary Policy Statement | 3 | |
USD | Fed Interest Rate Decision | 3 | 0.5 |
Government Bond Auctions
Date/Time Country Type
Jul 25 11:30 Germany Eur 1.5bn Jul 2017 Bubill
Jul 25 17:20 Italy Announces details of bond auction
Jul 26 11:10 Italy Holds zero-coupon/BTP€i auction
Jul 27 11:30 Germany Eur 1bn 2.5% Aug 2046 Bund
Jul 28 11:10 Italy Holds bond auction