Yesterday’s Market Movers
- The UK preliminary GDP figures came lower than expected. However, the impact on the Sterling was moderated as the situation in the US; and in the Euro zone is also struggled. The GBP surged indeed above 1.64 against the USD.
- In the US, the rate of Home Sales dropped down from 1% in June; as a result, the US dollar kept its weakness in the market.
Today’s Market Movers
- The analysts predict an increase of the German CPI on a monthly basis of 0.4%. According to them, the improvement would be driven by the rebound of the oil price. The YoY annual rate will probably reach the 2.5%.
- At the same time, the ECB will release the M3 Money Supply, which shows all currency in circulation in the short term. If this important indicator keeps growing around 2.4%, it will have a positive effect on the EUR.
- UK CBI Industrial Trends Survey will also be released by the Confederation of British Industry. If the rate comes lower as estimated, it will have a negative effect on the GBP since it takes into account the coming investment intentions and the business confidence in the UK.
- Across the Atlantic, the US Mortgage Bankers Association will reveal the MBA Mortgage Application of the US Housing Market. As it stimulates the overall US economy, a growth would directly have a positive consequence on the US dollar.