The Dollar Nightmare Continues

Daily Update - 8th August 2017

Yesterday’s Focus

• EUR Industrial Production
• US Labor Market Conditions , FOMC Member Kashkari Speech, Consumer Credit Change

Yesterday’s Explained

It’s a pretty quiet day on the macroeconomic calendar yesterdaysas they released Germany’s June industrial production, it  was disappointing figures as this is the first decline this year and while it ties in with a correction in German PMI readings, strong orders growth in the second quarter of the year still points to a recovery and ongoing robust growth ahead.

US watched  comments on Monday from St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari had a muted impact on the dollar. Bullard said the Fed can leave interest rates where they are for now because inflation is not likely to rise much even if the U.S. job market continues to improve.

Today’s Market

• EUR Trade Balance
• GBP NIESER GDP Estimate

Today’s Focus

Quite a day as Germany will release Trade Balance numbers followed by UK GDP Estimate of growth over the last 3 months up to the report which comes out a month before the official announcement. The report is highly reliable and would influence the UK monetary policy.