FOREX News and Overnight Technical Levels- July 19th

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

  • [B]EURUSD -[/B] German producer prices released lower than expected. Although below consensus, relative decline was minimized for the month.
  • [B]GBPUSD -[/B] UK retail sales increases at a slower pace for the month of June. Increasing 3.4 percent on the annualized figure, the decline was minimized, supporting speculation of rising interest rates.
  • [B]USDJPY -[/B] Japanese Tankan (Reuters survey) prints in line with previous figures. The outlook of the report improved and may spell further expansion in the near term. Japanese department store sales rise the best in 9 years.
  • [B]China second quarter[/B] growth roars past estimates, prints 11.9 percent higher. Subsequent China data was additionally higher with industrial production pushing past estimates at 19.4 percent and consumer prices rising 4.4 percent. Reports boost speculation of further tightening measures by the People?s Bank of China.
    -[B] US Dollar[/B] remains pressured on the second day of Bernanke?s testimony.