FX & CFD trading involves significant risk
Japan BoJ meeting announcement 0.00-0.10% 0.00-0.10% 0.00-0.10%
10:00 Germany Manufacturing orders (June) seasonally adjusted 1.8% -0.4% 1.5 (1.8)%
10:00 Germany Manufacturing orders (June) not seasonally adjusted, workday adjusted Y/Y 9.5% 6.7% 11.7 (12.2)%
11:00 UK BoE meeting announcement 0.50% 0.50% 0.50%
11:45 EU(17) ECB meeting announcement 1.50% 1.50% 1.50%
12:30 EU(17) ECB press conference
12:30 USA Jobless claims (week to 30.07) 400K 410K 401 (398)K
20:30 USA M2 money supply (25.07), bln +22.0 - +34.1
US dollar declined versus “save haven” currencies frank and yen. The dollar is still under from pressure from ongoing concerns about slowdown in the U.S. and EU economies. Another pressure are speculations that the Fed may would provide more stimulus if needed.
The franc bounced back against the dollar after a day before the currency fell following the Swiss National Bank cut interest rates from 0.25% to near zero.
The yen weakened after Japan sold its currency in the foreign- exchange market for the first time since March to stem gains that threaten the nation’s economic recovery. Japanese Finance Minister Yoshihiko Noda said intervention was one-side.
The Bank of Japan expanded its asset-purchase fund to 15 trillion yen ($189 billion) from 10 trillion yen, according to a statement. Policy makers also kept the benchmark interest rate near zero. They ended their meeting a day earlier than scheduled on request of the government.
The euro shed versus the dollar after ECB President Jean-Claude Trichet acknowledged a “particularly high” level of uncertainty and said inflation expectations “must remain firmly anchored.”
He said the ECB will offer banks additional cash as the region’s debt crisis spreads increasing pressure on policy makers to resume bond purchases.
The Canadian currency fell to the lowest level over 5 weeks amid declining crude oil prices, Canada’s biggest export.
EUR/USD fell from $1.4370 to $1.4085, triggering bids and stops.
GBP/USD initially fell from $1.6440 to $1.6340. Rate recovered to $1.6390, but it was short-lived before pound fell to a new lows around $1.6250.
USD/JPY rocketed sharply from Y70.05 to Y80.00. Later rate broke above to Y80.20 before corrected back to Y78.60.
On Friday UK PPI report will be released at 08:30 GMT, followed by Germany's Industrial Production at 10:00 GMT.
But the main event of the day is scheduled to release at 12:30 GMT - US non-farm Payrolls.
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