FX & CFD trading involves significant risk
06:00 Germany Import prices (June) -0.6% 0.0% -0.6%
06:00 Germany Import prices (June) Y/Y 6.5% 7.7% 8.1%
06:00 Germany Import prices excluding oil (June) Y/Y 4.0% - 5.1%
08:00 EU(17) M3 money supply (June) adjusted Y/Y 2.1% 2.4% 2.4%
08:00 EU(17) M3 money supply (3 months to June) adjusted Y/Y 2.2% 2.3% 2.2%
08:00 Italy Business confidence (June) 98.5 99.0 100.5
10:00 UK CBI industrial order books balance (July) -10% -3% 1%
10:00 UK CBI industrial output balance (July) 6% - 13%
The dollar collapced to record lows against the Australian and New Zealand currencies as President Barack Obama and lawmakers struggled to prevent a default.
The Obama administration threatened a veto of House Speaker John Boehner’s two-step plan to raise the $14.3 trillion debt ceiling and cut $3 trillion in expenditure. A vote on the measure had been scheduled for today and was postponed until tomorrow.
Standard & Poor’s reiterated on July 21 that the chance of a downgrade is 50 percent in the next three months and said it may cut the nation as soon as August.
“Looking for catalysts to sell the dollar is no problem at all,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co.. “If politicians fail to reach an agreement, dollar selling will accelerate. Even if they do agree, spending cuts will slow the U.S. economy.”
EUR/USD remains under pressure, falling from overnight highs on $1.4530 initially to support at $1.4470 and then - to $1.4440.
GBP/USD fell after the dissapopinting CBI report to below $1.6400. Rate posed lows on $1.6355.
USD/JPY continues to recover after it fell to Y77.60. Rate printed session highs on Y77.91.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.