FOREX News and Overnight Technical Levels- July 23rd

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

  • [B]EURUSD [/B]- Papdemos comments side with further growth in the coming quarters. “Currently the euro area economy enjoys a solid and broad based recoveryand growth is expected to remain robust in the coming quarters.”
  • [B]GBPUSD[/B] - Rightmove housing prices released softer than expected. Prices advanced at the slowest pace this year.
  • [B]USDJPY[/B] - Japanese June supermarket sales decline by 1.5 percent. The figure was lower than the 0.6 percent drop in the previous month and shows waning interest on the part of consumers.
  • [B]AUDUSD[/B] - Producer prices rose higher than expected, adds 1 percent on the quarterly assessment while rising 2.3 percent on the annualized comparison. Although higher, rates of inflation at producer level have pared back a bit.
  • [B]China and Singapore[/B] have made cash infusions in order to boost Barclay?s bid for ABN Amro. The current bid stands at $93.34 billion and offers more cash than previously stipulated.
  • [B]US Dollar[/B] lower against the Pound sterling and Canadian dollar, remains supported against the Yen and Euro.