- N.Z. 2nd qtr. retail sales rose 1.3% q/q nearly twice as much as predicted . Record jump in auto sales and strong consumer confidence were cited.
- U.K. RICS July home price index falls to -24 from -22 in June. Lowest since June 2011. -MNI
- BOJ July Minutes , Should not rule out any options, stand ready to act if risks stemming from Europe debt woes materialize.-MNI
- Japan June Tertiary Industry Index rose 0.1% -MNI
- Japan’s Upper House OK’s sales tax hike.
- Australia July motor vehicle sales fell 0.8 % m/m , rose 5% y/y sales , although modest , were still a record for July.
- Australia NAB business confidence rose 4 as business conditions fell 3 , mixed bag complaints of falling sales and profits , but confident that things would get better .
The EUR/USD had a firmer tone today against it’s counter parties as traders lightened up their shorts ahead of European GDP numbers . It held firm at the old resistance level of 1.2325/30 , but could not make a break of 1.2350.
USD/JPY saw good support at 78.30 and worked it’s way up to 78.45. The Minutes of the July BOJ meeting was, as expected , a non-event price wise. Assume good bids 78.00/10 , offers 78.45/50 remain intact.
AUD/USD had a battle going on at 1.0515/20 for hours at a time . It saw a brief pop to 1.0530/35 level (old support level) but fail to follow through . Currently it’s trading at , guess where , 1.0515/20 . Does remain soft and would not be surprised if it tested below the 1.0500 level .
Later today you have a slew of releases :
- France : CPI and GDP at 05:30 GMT.
- France Non-farm payrolls and wages at 06:45 GMT.
- German GDP at 06:00 GMT
- German ZEW Survey at 09:00 GMT.
- Switzerland has producer & import prices at 07:15 GMT
- UK : ONS House price , CPI , Retail Price Index , at 08:30 GMT .
- Greece to sell EUR 3.125 Bln 91- day bills at 09:00 GMT.
- Euro-Zone GDP , Industrial Production and ZEW survey at 09:00 GMT.
- ECB announces allotment in 7 day main refinancing tender at 09:15 GMT and 7-day term deposits at at 11:00 GMT.
Have a Good Day and Good Luck .
