FOREX News and Overnight Technical Levels - July 10th


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[B]Asia - JPY/CNY[/B]

  • Japanese June machine tool orders rise 2.8 percent. Weaker compared to previous gains of 5.7 percent.
  • China trade surplus makes headlines. Widens 85.5 percent on the yearly comparison, widens to $26.9 billion with US surplus attributing more than 50 percent.

[B]Commodity Currencies - AUD/NZD/CAD[/B]

  • Bank of Canada elects to increase rates by 25 basis points to 4.50 percent. Decision was as expected.
  • Australia NAB business confidence remains unchanged at 15.
  • New Zealand Q2 NZIER business opinion survey plunges to -37 on rate hike to 8 percent by the central bank. Weaker than the previous -15 dip.

[B]Europe - GBP/EUR/CHF[/B]

  • UK BRC retail sales pops up the most in four months. Deep discounts helped to boost store sales 3 percent compared to estimates of 1.8 percent.
  • Visible trade balance narrows in the UK on higher export orders to Asia and the rest of Europe.