EUR/USD:
The euro fell against the US dollar due to the economic data released on Wednesday from the euro area and the US, and as investors await the outcome of the Greek Congress vote on the rescue loan agreement.
European economic data
• Consumer price index at 09.00 GMT
• Trade balance at 09.00 GMT
• Interest rate decision at 11.45 GMT
• ECB monetary policy statement at 14.00 GMT
American economic data
• Manufacturing survey at 14.00 GMT
• Housing market index at 13.15 GMT
• Yellen testify at 14.00 GMT
• EIA crude Gas stock change at 14.30 GMT
GBP/USD:
The pound stabilized against the US dollar after the British labor market data missed expectations, and the positive American data released. U.S. figures reflected a rising PPI and industrial production in June and a rising industrial average in July which exceeded expectations.
British economic data
• Leading economic index at 13.30 GMT
USD/JPY:
The US dollar rose against the Japanese yen due to the absence of economic data from the Japanese side and the release of positive data from the US.
Japanese economic data
No economic data
AUD/USD:
The Australian dollar fell against the American dollar during Wednesday's trading session despite the release of GDP data for the Chinese economy, which reflected a higher than expected growth of the Chinese economy during the second quarter.
Australian economic data
• Consumer inflation expectation at 01.00 GMT
• Foreign exchange transaction at 01.30 GMT
Gold
Gold prices dropped to its lowest levels yesterday, after positive economic data was released from China, the second-largest economy in the world and the largest consumer of gold globally, and from the United States, the world's largest economy.
Oil
US crude oil prices fell despite EIA’s weekly report which showed a deficit in stocks that exceeded expectations. Oil prices were pressured by the rising US dollar index and the positive US economic data.
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.