Today the focus is on borrowing in the UK, Japanese factory output, & Australian sales.
The ECB’s Interest Rate Decision for July will be announced. Forecast: 0.00%. If the rate is increased it should be taken as a bullish sign for the EUR.
Assets to trade: EUR/USD, EUR/CHF, EUR/JPY
The US Existing Home Sales for June will be released. Forecast: 5.90M. If the data is higher than expected the USD could receive a positive push.
Assets to trade: EUR/USD, USD/NOK, USD/MXN
British public borrowing last month was almost a fifth lower than a year earlier when the economy was feeling the full force of the coronavirus pandemic, but rising inflation put upward pressure on debt costs. Affects GBP
Japan’s factory output likely rebounded in June from the prior month’s drop, while retail sales growth was expected to slow as new coronavirus infections dampened consumer confidence. Affects JPY
Australian retail sales slumped in June as coronavirus lockdowns and mobility restrictions in much of the country hit demand, casting a shadow over the outlook for growth in the third quarter as COVID-19 cases continue to rise. Affects AUD
U.S. states putting an early end to federal unemployment benefits saw a larger jump in local labor supply in June than those planning to maintain the $300 weekly supplement until early September, new data show, though there was no clear sign it had led to significantly more hiring. Affects USD
Coca-Cola Co raised its full-year sales and profit forecasts on Wednesday, as demand bounces back from pandemic lows for its beverages following the re-opening of theaters, restaurants, and stadiums. Affects Coca-Cola
Australia is dealing with new lockdowns and restrictions hitting the economy potentially slowing growth and demand. As the Australian economy struggles, New Zealand has seen steady economic activity, though hindered by diminished trade.
The pair has tested its support zone, if it breaks below the second line, there could be a big drop.
The pair is in a blatant downtrend with little signs of stopping.
The Japanese index is trading within a downward channel.