FOREX News and Overnight Technical Levels- July 24th

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

  • [B]EURUSD -[/B] French consumer spending comes in as expected by the consensus. Rising 0.7 percent on the monthly assessment, the 1.8 percent annualized increase shows support strength in the economy. Italian consumer confidence also remained supported in the monthly assessment.
  • [B]GBPUSD -[/B] CBI Trends survey for July shows weaker activity. Compared to previous uptick of +16, book balances drop to -2, suggestive of a potential slowdown.
  • [B]USDCAD -[/B] The underlying currency breaks through 1.0400 support and heads lower as retail sales figures rock the consensus estimate. The positive findings place plenty of support for consumer spending and potentially higher rates of inflation.
  • [B]US Dollar[/B] moves lower against the Euro and British Pound to record levels, hits a two month low against the Japanese yen.