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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
05:00 Japan Leading Economic Index June 104.8 105.5 105.5
05:00 Japan Coincident Index June 111.3 109.4
06:00 Germany Factory Orders s.a. (MoM) June -1.6% Revised From -1.7% +0.5% -3.2%
06:00 Germany Factory Orders n.s.a. (YoY) June +5.5% -4.3%
07:00 United Kingdom Halifax house price index July -0.6% +1.4%
07:00 United Kingdom Halifax house price index 3m Y/Y July +8.8% +10.2%
07:15 Switzerland Consumer Price Index (MoM) July -0.1% -0.5% -0.4%
07:15 Switzerland Consumer Price Index (YoY) July 0.0% 0.0% 0.0%
08:30 United Kingdom Industrial Production (MoM) June -0.7% +0.6% +0.3%
08:30 United Kingdom Industrial Production (YoY) June +2.3% +1.5% +1.2%
08:30 United Kingdom Manufacturing Production (MoM) June -1.3% +0.7% +0.3%
08:30 United Kingdom Manufacturing Production (YoY) June +3.7% +2.1% +1.9%
The U.S. dollar traded higher against the most major currencies ahead of the trade balance data in the U.S. The U.S. trade deficit is expected to decline to $44.2 billion in June from a deficit of $44.4 billion in May.
The euro decreased against the U.S. dollar after the weak factory orders in Germany. Factory orders in Germany dropped 3.2% in June, missing forecasts of a 0.5% increase, after a 1.6% decline in May. That was the biggest drop since September 2011.
May's figure was revised up from a 1.7% fall.
The British pound declined against the U.S. dollar after the weaker-than-expected industrial production in the UK. Industrial production increased 0.3% in June, missing expectations for a 0.6% rise, after a 0.6% decline in May. May's figure was revised up from a 0.7% decrease.
On a yearly basis, industrial production rose 1.2% in June, missing expectations for an increase of 1.5%, after 2.3% gain in May.
Manufacturing production climbed 0.3% in June, missing forecasts of a 0.7% rise, after a 1.3% fall in May.
On a yearly basis, manufacturing production jumped 1.9% in June, after a 3.7% increase. Economists had expected a rise of 2.1%.
The Swiss franc dropped against the U.S. dollar. Consumer price index in Switzerland declined 0.4% in July, beating forecasts of a 0.5% fall, after 0.1% decrease in June.
On a yearly basis, Switzerland's consumer price index remained flat in July, in line with expectations.
EUR/USD: the currency pair declined to $1.3332
GBP/USD: the currency pair fell to $1.6820
USD/JPY: the currency pair was down to Y102.29
The most important news that are expected (GMT0):
12:30 Canada Trade balance, billions June -0.2 -0.1
12:30 U.S. International Trade, bln June -44.4 -44.2
14:00 United Kingdom NIESR GDP Estimate July +0.9%
14:30 U.S. Crude Oil Inventories July -3.7
23:30 Australia AiG Performance of Construction Index July 51.8
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