DailyFX.com -

Talking Points:

  • British Pound Looking to 2Q GDP to Inform BOE Interest Rate Hike Bets
  • Australian Dollar Declined Overnight as Post-CPI Correction Continued
  • Add Economic Data Releases to Your Charts with the DailyFX News App

Second-quarter UK GDP figures headline the economic calendar in European hours. Expectations suggest output grew 0.8 percent, matching the first-quarter outcome. The year-on-year growth rate is expected to accelerate to 3.1 percent, the fastest in almost seven years.

Data from Citigroup shows UK economic news-flow aggressively deteriorated relative to expectations in the three months through June, opening the door for a downside surprise. Such an outcome is likely to undermine BOE interest rate hike speculation, weighing on the British Pound.

The Australian Dollar narrowly underperformed in overnight trade, sliding as much as 0.2 percent on average against its leading counterparts. The move tracked a decline in Australia’s benchmark 10-year bond yield, hinting the selloff reflected moderation in investors’ RBA policy outlook following a surge triggered by second-quarter CPI figures.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:01

GBP

Hometrack Housing Survey (MoM) (JUL)

0.1%

-

0.3%

23:01

GBP

Hometrack Housing Survey (YoY) (JUL)

5.8%

-

6.0%

23:30

JPY

National CPI (YoY) (JUN)

3.6%

3.5%

3.7%

23:30

JPY

National CPI Ex-Fresh Food (YoY) (JUN)

3.3%

3.3%

3.4%

23:30

JPY

National CPI Ex Food, Energy (YoY) (JUN)

2.3%

2.3%

2.2%

23:30

JPY

Tokyo CPI (YoY) (JUL)

2.8%

2.8%

3.0%

23:30

JPY

Tokyo CPI Ex-Fresh Food (YoY) (JUL)

2.8%

2.7%

2.8%

23:30

JPY

Tokyo CPI Ex Food, Energy (YoY) (JUL)

2.1%

2.0%

2.0%

23:50

JPY

PPI Services (YoY) (JUN)

3.6%

3.6%

3.6%

1:00

NZD

ANZ Activity Outlook (JUL)

45.1

-

45.8

1:00

NZD

ANZ Business Confidence (JUL)

39.7

-

42.8

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:00

EUR

German GfK Consumer Confidence (AUG)

8.9

8.9

Low

8:00

EUR

German IFO - Current Assessment (JUL)

114.5

114.8

Medium

8:00

EUR

German IFO - Expectations (JUL)

104.4

104.8

Medium

8:00

EUR

German IFO - Business Climate (JUL)

109.4

109.7

Medium

8:00

EUR

Euro-Zone M3 s.a. (YoY) (JUN)

1.2%

1.0%

Low

8:00

EUR

Euro-Zone M3 s.a. (3M Avg) (JUN)

1.0%

0.9%

Low

8:30

GBP

Gross Domestic Product (QoQ) (2Q A)

0.8%

0.8%

High

8:30

GBP

Gross Domestic Product (YoY) (2Q A)

3.1%

3.0%

High

8:30

GBP

Index of Services (MoM) (MAY)

0.2%

0.3%

Low

8:30

GBP

Index of Services (3M/3M) (MAY)

1.0%

0.9%

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.3368

1.3415

1.3440

1.3462

1.3487

1.3509

1.3556

GBPUSD

1.6828

1.6915

1.6951

1.7002

1.7038

1.7089

1.7176

Related Articles
  1. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  3. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  4. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  5. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  6. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  7. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  8. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  9. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  10. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!