EUR/USD:
The market was quiet yesterday with the absence of important economic data from both, Europe and the U.S. Investors await the third aid measures for Greece and some important economic data to be released in the coming days.
European economic data
No economic data
American economic data
• Redbook index at 12.55 GMT
GBP/USD:
The pound fell against the US dollar yesterday after the decline in British House Price Index during the month of July to 0.1%, vs. 0.3% last month.
British economic data
• Public sector net borrowing at 08.30 GMT
USD/JPY:
The Japanese yen fell against the US dollar with the absence of any data due to the Japanese bank holiday and as investors await the Japanese Monetary Policy Meeting Minutes with the expectation of no change to the Japanese central bank policy.
Japanese economic data
No economic data
AUD/USD:
The Australian dollar was steady against the US dollar, like all currencies, due to the absence of economic data and as investors await the Australian Monetary Policy Meeting Minutes released this morning.
Australian economic data
• RBA meetings at 01.30 GMT
Gold
Gold prices fell after data showed that China’s gold reserves rose less than expected. Gold prices are usually supported by the demand coming from China. Demand for gold as a safe haven also fell after the easing of the Greek debt crisis.
Oil
Oil prices fell due to rising supply of crude oil in the world markets as production reached record levels in both the United States and in the American members of the OPEC countries, in addition to concerns about Iran's return to exporting crude oil.
Disclaimer
The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.