DailyFX.com -

Talking Points:

  • British Pound Looks to Construction PMI Data to Fuel Continued Selling
  • Australian Dollar Strengthened as Risk Appetite Firmed in Overnight Trade
  • View Economic Data Releases on Your Charts with the DailyFX News App

The UK Construction PMI figure headlines an otherwise lackluster European economic calendar. Expectations point to a narrow slowdown in the pace growth in the home-building sector, with the index slipping to 62.0 in July after printing at a four-month high of 62.6 in the previous month.

UK data flow has increasingly deteriorated relative to expectations since late February, hinting analysts are over-estimating the health of the economy and opening the door for a downside surprise. Such an outcome may dent Bank of England interest rate hike bets and weigh on British Pound.

The Australian Dollar narrowly outperformed in overnight trade, rising as much as 0.2 percent on average against its leading counterparts. The move tracked advancing S&P 500 futures, hinting the sentiment-linked currency was riding the coattails of a recovery in risk appetite following last week’s blood-letting.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

1:00

CNY

China Non-manufacturing PMI (JUL)

54.2

-

55.0

23:50

JPY

Monetary Base (YoY) (JUL)

42.7%

-

42.6%

23:50

JPY

Monetary Base (End of Period) (JUL)

¥243.2T

-

¥243.4T

0:30

AUD

TD Securities Inflation (MoM) (JUL)

0.2%

-

0.0%

0:30

AUD

TD Securities Inflation (YoY) (JUL)

2.6%

-

3.0%

1:00

NZD

ANZ Commodity Price (JUL)

-2.4%

-

-0.9%

1:30

AUD

Retail Sales s.a. (MoM) (JUN)

0.6%

0.3%

-0.3%

1:30

AUD

Retail Sales ex Inflation (QoQ) (2Q)

-0.2%

-0.5%

1.3%

1:30

AUD

ANZ Job Advertisements (MoM)

-2.8%

-

4.4%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:30

CHF

procure.ch Manufacturing PMI (JUL)

53.1

54.0

Low

8:30

GBP

Markit/CIPS UK Construction PMI (JUL)

62.0

62.6

Medium

8:30

EUR

Eurozone Sentix Investor Confidence (AUG)

9.0

10.1

Low

9:00

EUR

Eurozone Producer Price Index (YoY) (JUN)

-1.0%

-1.0%

Low

9:00

EUR

Eurozone Producer Price Index (MoM) (JUN)

0.0%

-0.1%

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.3285

1.3351

1.3389

1.3417

1.3455

1.3483

1.3549

GBPUSD

1.6685

1.6764

1.6792

1.6843

1.6871

1.6922

1.7001

Related Articles
  1. 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.
  2. 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 ...
  3. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  9. 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?
  10. Forex News

    How The Forex "Fix" May Be Rigged

    When it comes to forex, some types of "fixes" are legal. But some really aren't.
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!