FX & CFD trading involves significant risk
23:50 Japan GDP, q/q (preliminary) Quarter II +1.2% +0.3%
The dollar advanced against most of its 16 major counterparts on signs Europe’s debt crisis is weighing on economies across the globe, boosting demand for the relative safety of the U.S. currency. The greenback maintained four days of gains against the euro before reports tomorrow forecast to show gross domestic product grew at a slower pace in Germany and contracted in France. The euro-area economy probably shrank 0.2 percent in the second quarter from the previous three-month period, according to the median estimate of analysts surveyed by Bloomberg before tomorrow’s data. France contracted by 0.1 percent, while German growth slowed to 0.2 percent, separate polls showed.
Data today showed Japan’s economy expanded less than analysts estimated as exports and consumer spending weakened. The pace of economic growth in Japan cooled to an annualized 1.4 percent in the second quarter from a revised 5.5 percent in the first three months of the year, the Cabinet Office said in Tokyo today. The median estimate of 24 economists surveyed by Bloomberg was for a 2.3 percent gain.
Demand for the Australian and New Zealand dollars was tempered as Asian stocks failed to extend a weekly advance that was the biggest since January.
EUR/USD: during the Asian session the pair was traded in range $1.2260-$1.2300.
GBP/USD: during the Asian session the pair was traded in range $1.5660-$1.5680.
USD/JPY: during the Asian session the pair rose, stepping back from Friday's low.
European data for Monday starts at 0600GMT with German wholesale prices data for June, which is followed at 0645GMT by June current account data from France. There is also a German government press conference at 0930GMT. The US also holds three and six month bill auctions today. UK data is limited to CML Mortgage Approvals at 0830GMT.
|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.