Economic calendar (GMT0):
Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual
05:00 Japan Coincident Index (Finally) July 112.3 112.2 113.1
05:00 Japan Leading Economic Index (Finally) July 106.5 104.9 105
The U.S. dollar advanced slightly against the euro after strong revised U.S. GDP data intensified expectations for higher rates this year. U.S. gross domestic product rose by 3.9% y/y in the second quarter compared to a 3.7% growth pace in the first quarter.
The pound was steady ahead of UK GDP data scheduled for this week. The report is likely to show that the country's gross domestic product rose moderately in the second quarter, but the current account deficit remained significant.
The New Zealand dollar rose amid gains in Australian stock markets. The kiwi is also supported by optimism about dairy products. Unlike the Federal Reserve, the Reserve Bank of Australia is likely to cut its benchmark rate by 50 basis points next year. The central bank of New Zealend is also ready to cut rates further.
EUR/USD: the pair fluctuated within $1.1175-15 in Asian trade
USD/JPY: the pair fell to Y120.20
GBP/USD: the pair traded within $1.5185-10
The most important news that are expected (GMT0):
(time / country / index / period / previous value / forecast)
09:15 U.S. FOMC Member Tarullo Speaks
12:30 U.S. Personal spending August 0.3% 0.3%
12:30 U.S. Personal Income, m/m August 0.4% 0.4%
12:30 U.S. PCE price index ex food, energy, Y/Y August 1.2%
12:30 U.S. PCE price index ex food, energy, m/m August 0.1% 0.1%
12:30 U.S. FOMC Member Dudley Speak
14:00 U.S. Pending Home Sales (MoM) August 0.5% 0.5%
17:30 U.S. FOMC Member Charles Evans Speaks
21:00 U.S. FOMC Member Williams Speaks
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