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- European session: the euro fell
European session: the euro fell
Data:
06:00 Germany CPI, m/m (finally) July -0.2% +0.4% +0.4%
06:00 Germany CPI, y/y (finally) July +2.0% +1.7% +1.9%
06:45 France Industrial Production, m/m June -1.9% +0.4% 0.0%
08:30 United Kingdom Producer Price Index - Input (MoM) July -2.2% +1.3% +1.3%
08:30 United Kingdom Producer Price Index - Input (YoY) July -2.3% -1.5% -2.4%
08:30 United Kingdom Producer Price Index - Output (MoM) July -0.4% +0.1% 0.0%
08:30 United Kingdom Producer Price Index - Output (YoY) July +2.3% +2.0% +1.3%
The euro weakened as Germany’s economy ministry said the outlook for faster growth was fading amid the currency-bloc’s sovereign-debt crisis.
The prospect of global economic recovery is “fragile,” Germany’s economy ministry said in its report for August. The nation’s economy “moderately” expanded in the second-quarter compared with the first-quarter, it said.
The greenback strengthened as China’s export growth collapsed, boosting demand for the currencies as havens.
China’s exports rose 1% in July from a year earlier, following an 11.3% increase in June, the customs bureau said in Beijing. That compared with the median estimate of economists for an 8% gain.
EUR/USD: during European session, the pair remained under pressure and fell to $1.2260 area.
GBP/USD: the pair decreased, showing low at $ 1.5576. Later the pair restored to $1.5600 area.
USD/JPY: during European session, the pair approached the support in Y78, 35 area.
US data for Friday starts at 1230GMT with the July Import / Export Price Index. Later data sees the 1900GMT release of the Treasury Budget Statement where the Treasury is expected to post a $103.0 billion budget gap in July, compared with the $129.4 billion gap in July 2011.
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