FOREX News and Overnight Technical Levels- August 7th

[B][U]Fundamental Headlines[/U][/B]

  • [B]NZDUSD -[/B] July ANZ Commodity price index rises by 4.7 percent on the month over month assessment. Rising for the 13th month, the survey purports higher inflationary pressures.
  • [B]AUDUSD -[/B] Performance of construction index declines to +48.8 from the previous 51.3 reading. Treasurer Costelllo notes that although economy is in the longest period of growth, consumer prices are within the RBA?s benchmark target.
  • [B]GBPUSD -[/B] UK July retail sales figures rises much weaker than expected, by 1.2 percent. The new figure for same store sales show that consumers may be paring back on spending as a result of rate increases. Interest rate expectations have notably pulled back in the current month.
  • [B]EURUSD -[/B] German industrial production pares back by 0.4 percent on the monthly assessment. However, overall figures remain robust at 5.1 percent, suggestive of some support in the manufacturing sector.