mask Dollar and Pound in the Spotlight

15/ 08/ 2017

Dollar and Pound in the Spotlight

Daily Update - 15th August 2017

Yesterday’s Focus

  • EUR Industrial Production

Yesterday’s Explained

In terms of data releases, it is a very quiet day with the euro area industrial production figure for June being the only interesting figure. Against consensus, the German industrial production figure for June dropped 1.1% m/m with declines in construction and all manufacturing sectors. Eurozone Industrial production falls more than expectations. Only Energy showed a positive reading which affects the volatility in EUR.

Today’s Market

  • EUR Gross Domestic Product
  • AUD RBA Meeting minutes
  • GBP UK Inflation
  • USD Retail sales Ex Autos & Retail sales, NAHB Housing Market index

Looking ahead of the day, the immediate focus now remains on the German prelim GDP data, which will offer some incentives to the EUR traders amid holiday-thinned markets followed by UK July inflation figures at all levels, with CPI, PPI and the retail price index being out will certainly give the pound some direction followed by US Retail Sales later today which will have a major influence on the Fed’s rate hike outlook and in turn on the buck.