EUR/USD:
The euro fell against the dollar despite a decision to grant Greece a third rescue package of loans. The rescue plan was given provided that the Greek government makes repairs that include an increase in tax revenues, the rationalization of pensions and the enhancement of labor market.
European economic data
Industrial production at 09.00 GMT
American economic data
Retail sales at 12.30 GMT
Retail sales ex autos at 12.30 GMT
GBP/USD:
The pound fell slightly against the US dollar as a result of profit-taking operations, while markets awaited the negotiations regarding the Greek crisis. Investors also await today several important data to be released from the UK.
British economic data
Retail price at 08.30 GMT
Producer price at 23.01 GMT
Consumer price at 08.30 GMT
House price at 08.30 GMT
USD/JPY:
The US dollar rose against the Japanese yen after Japan's industrial production index fell by 2.1% compared to an expected reading of 2.2%. The annual reading of the index also showed a decline down to 3.9% versus 4.0% in the previous month.
AUD/USD:
The Australian dollar continued to decline against the US dollar due to the absence of significant Australian economic data. China's economic crisis continues to add pressure on the Australian economy, as China is Australia’s first trade partner.
Australian economic data
National Australian bank business confidence at 01.30 GMT
National Australian bank business conditions at 01.30 GMT
Gold
Gold prices fell yesterday after the decline in demand for safe haven investments, after Greece managed to avoid bankruptcy and remained in the Eurozone after reaching an agreement with creditors.
Oil
Crude oil prices were positively affected by the agreement reached between Greece and its creditors which, which ended fears in the financial markets. The return of optimism has increased the appetite for risky investments such as 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.