Daily Update - 20th July 2017
Yesterday was a calm day in terms of economic data as we saw only a few reports of significance. We initially had the housing session from US where it covered the housing starts as well as building permits which were positive and one of the reasons why the USD gained a few pips against its competitors. Next, we had the EIA crude oil stocks change which were more than decent which indicates the surplus in the barrels of crude oil in their inventory. We are looking at a heavy day with reports coming in from all over the market. First up is from the UK where the retail sales session will take place which takes into account the total receipts from retail stores which can indicate the rate of changes in sales. Moving on, we have the Bank of Japan making an interest rate decision by basis of economic data in Japan. The event of the day would be the ECB interest rate decision. It was stated that Mario Draghi is looking at a hawkish outlook as it was reported that their might not be any alteration of the interest rate and the asset purchases program due to the boom in the currency. Finally we have the initial jobless claims, continuing jobless claims and the Philadelphia Fed manufacturing that will be coming out during the latter half of the day. Yesterday’s Focus
Yesterday’s Explained
Today’s Focus
Today’s Market
