The Pound posted further losses on Thursday, after the Royal Institute of Chartered Surveyors (RICS) released their survey on the UK’s house price growth. Prices continued to rise, although at the slowest pace in three years. Just 5 percent more surveyors recorded an increase than a fall, compared with 15 percent in June. With both demand and sales dropping in July, the near-term outlook for the U.K. housing market is dominated by Brexit. Fears that Britain could be headed into a recession continue to influence markets, and it seems that these concerns will increase if British indicators continue to weaken.
The number of Americans filing for unemployment benefits fell last week, pointing towards continued strength in the US labour market in early August. The combination of dollar strength and cheaper oil prices is likely to continue to dampen inflation pressures, and keep overall inflation below the Federal Reserve's 2 percent target. Low inflation suggests the U.S. central bank is less likely to raise interest rates in the near term, even as the labour market approaches full employment.
13:30 - USD: Retail Sales ex Autos (MoM) for July, forecast to increase by 0.2%