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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
06:00 Germany CPI, m/m (Finally) July -0.1% 0.2% 0.2%
06:00 Germany CPI, y/y (Finally) July 0.3% 0.2% 0.2%
06:45 France CPI, m/m July -0.1% -0.4%
06:45 France CPI, y/y July 0.3% 0.2%
07:15 Switzerland Producer & Import Prices, m/m July -0.1% -0.3%
07:15 Switzerland Producer & Import Prices, y/y July -6.1% -6.4%
11:30 Eurozone ECB Monetary Policy Meeting Accounts
The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. retail sales data. The U.S. retail sales are expected to rise 0.5% in July, after a 0.3% decline in June.
Retail sales excluding automobiles are expected to climb 0.4% in July, after a 0.1% decrease in June.
The number of initial jobless claims in the U.S. is expected to remain unchanged at 270,000.
The yuan devaluation weighed on the greenback. The People's Bank of China (PBoC) has devaluated the yuan for the third day. But the central bank tried to reassure market participants on Thursday, saying there was no basis for further yuan devaluation.
The yuan depreciated 1.9% on Tuesday, 1.6% on Wednesday and 1.1% today. China's central bank set Thursday's daily fixing at 6.4010 per U.S. dollar, down from 6.3306 on Wednesday.
The euro traded lower against the U.S. dollar after the release of the weak economic data from the Eurozone. German final consumer price index rose 0.2% in July, in line with the preliminary estimate, after a 0.1% decline in June.
On a yearly basis, German final consumer price index decreased to 0.2% in July from 0.3% in June, in line with the preliminary estimate. It was the lowest level since February.
The decline was driven by falling energy prices, which dropped 6.2% year-on-year in July.
The French consumer price inflation dropped 0.4% in July, after a 0.1% decrease in June.
On a yearly basis, the consumer price index climbed 0.2% in July, after a 0.3% rise in June.
The European Central Bank's (ECB) its minutes of July meeting on Thursday. According to the minutes, financial developments in China could have a larger than expected adverse impact.
The British pound traded higher against the U.S. dollar in the absence of any major economic reports from the U.K.
The Canadian dollar traded lower against the U.S. dollar ahead of Canadian housing market data. Canada's new housing price index is expected to rise 0.1% in June, after a 0.2% gain in May.
The Swiss franc traded mixed against the U.S. dollar after the economic data from Switzerland. Switzerland's producer and import prices fell 0.3% in July, after a 0.1% drop in June.
The decline was driven by lower prices for petrol and petroleum products, watches and electronic components and circuit boards.
The Import Price Index decreased by 0.3% in July, while producer prices fell 0.2%.
On a yearly basis, producer and import prices plunged 6.4% in July, after a 6.1% drop in June.
The Import Price Index fell by 10.5% year-on year in July, while producer prices dropped 4.5%.
EUR/USD: the currency pair declined to $1.1099
GBP/USD: the currency pair increased to $1.5636
USD/JPY: the currency pair fell to Y124.38
The most important news that are expected (GMT0):
12:30 Canada New Housing Price Index, MoM June 0.2% 0.1%
12:30 U.S. Initial Jobless Claims August 270 270
12:30 U.S. Retail sales July -0.3% 0.5%
12:30 U.S. Retail sales excluding auto August -0.1% 0.4%
14:00 U.S. Business inventories June 0.3% 0.3%
22:45 New Zealand Retail Sales YoY Quarter II 7.4% 5.2%
22:45 New Zealand Retail Sales, q/q Quarter II 2.7% 0.5%
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