Currency Market Snapshot

Currency market snapshot

	Open	High	Low
EURUSD	1.38837	1.39351	1.38587
EURGBP	0.86386	0.865175	0.86288
GBPUSD	1.60725	1.61255	1.60295
EURJPY	128.952	130.018	128.092
USDJPY	92.8825	93.5175	92.38

Yen crosses stabilise following a heavy selling. US equities closed falt and the Nikkei was down by 1.38%. The Aussie, USD and EUR rallied against the Yen as investors took profit on risk trades on short covering. The previous support levels are now considered the key sell levels as the market is selling in to any rallies.

Data due today:

06.00 GMT German Consumer Price Index exp 0.4% for June

06.00 GMT German Consumer Price Index YoY exp 0.1% for June

06.00 GMT German Trade Balance exp Euro 9.0 Billion for May

06.00 GMT German Current Account exp Euro 3.7 Billion for May

06.00 GMT German Imports exp 0.8% for May

06.00 GMT German Exports exp 1.5% for May

08.00 GMT ECB Monthly Report for July

08.30 GMT U.K. Visible Trade Balance exp Deficit Gbp 6.75 Billion for May

08.30 GMT “ U.K. Total Trade Balance exp Deficit Gbp 2.85 Billion for May

11.00 GMT BOE Rate Announcement exp No Change at 0.5%

12.15 GMT Canada Housing Starts exp 130,000 for June

12.30 GMT U.S. Initial Jobless Claims exp 603,000

14.00 GMT U.S. Wholesale Inventories exp -1.0% for May