This morning the EUR/USD is showing strength, currently up at the 1.4623 level from its open of 1.4584. Sterling trading with a bid tone following Gordon Brown’s speech yesterday. The batch of recent UK data released had a positive complexion overall. UK’s Q2 GDP contraction was revised from –0.7% to –0.6%. This morning the GBP is showing strength, opening at 1.5952 and now currently bouncing at around the 1.6043 level. JPY trades lower as Japanese officials backpedaled on comments opposing intervention in Forex markets. JPY is showing weakness this morning currently down at the 89.80 level.Â
Due for release today, there is the EUR German Unemployment Change, EUR German Unemployment Rate, EUR Euro-Zone Consumer Price Index Estimate, CHF KOF Swiss Leading Indicator, USD ADP Employment Change, CAD Gross Domestic Product, USD Personal Consumption, USD Personal Core Consumption, USD Gross Domestic Product Price Index, JPY Tankan Large Manufacturers Index, JPY Tankan Non-Manufacturing Outlook, JPY Tankan Large All Industry Capex.
By Greg Secker
