FOREX News and Overnight Technical Levels- July 11th

[B]Click Here For PDF[/B]
[B]Asia - JPY/CNY[/B]

  • Japanese June CGPI rises 0.1 percent on the monthly assessment. The increase boosted the 2.3 percent annualized figure, still lower than expected - shows inflation under control.
  • May current account surplus widens better than expected for Japan. The figure was widely boosted by investment and supports the likelihood that rates will remain unchanged.

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

  • Westpac consumer confidence for July declines a paltry 0.6 percent, still remains near record for Australian economy.

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

  • European central bankers released rhetoric in the overnight stating that growth remains optimistic while inflationary pressures continue to be a concern. Supports speculation of a rate increase in September, taking the rate higher to 4.25 percent.
  • Policymaker Gieve states that it is important to not overdo rate increases - “The important thing is not to over react with big jumps in interest rates, which could prove disruptive.”