Today the focus is on British retail, Eurozone borrowing, and Japanese inflation.
The Canadian Core CPI (MoM) for June will be reported. Forecast: 0.4%. If the data is lower than forecast the CAD could receive a negative push.
Assets to trade: CAD/CHF, GBP/CAD, USD/CAD
US Crude Oil Inventories will be released. Forecast: -3.433M. If the amount is lower than expected it is a bullish signal for crude prices.
Assets to trade: Brent, Chevron, Exxon Mobil
The Federal Reserve will release its Interest Rate Decision will be announced. Forecast: 0.25%. If the decision is higher than expected the USD could receive a positive push.
Assets to trade: USD/MXN, USD/CHF, AUD/USD
The Bank of Japan’s 2% inflation target has pulled Japan’s economy out of deflation, Governor Haruhiko Kuroda said on Tuesday. Affects JPY
British retailers reported only a slight slowdown in July after sales growth hit its highest in almost three years in June, the first full month after non-essential shops reopened from a coronavirus shutdown, industry data showed on Tuesday. Affects GBP
Chinese companies listed on US stock exchanges must disclose the risks of the Chinese government interfering in their businesses as part of their regular reporting obligations, a top US Securities and Exchange Commission official said on Monday. Affects Alibaba
Eurozone households continued to borrow at a brisk pace from their banks last month, European Central Bank data showed on Tuesday, lured by low-interest rates and an economic rebound from the recent-pandemic induced slump. Affects EUR
Global economic growth prospects are holding strong for this year and next, despite a significant majority of economists warning new variants of the coronavirus pose the biggest risk to that outlook. Affects S&P 500
The Japanese economy has been dampened repeatedly by COVID and an Olympics without fans, but continues to push forward and claw back ground against many currencies. Ending the deflation period will stoke this currency going forward.
The pair is trading in a downward channel.
The pair is trading in an upward channel, but prices will soon test the upper boundary.
Its recent uptrend has stalled at the resistance level and prices could drop or break above it.