FOREX News and Overnight Technical Levels- July 25th

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

  • [B]USDJPY -[/B] Japanese merchandise trade surplus widens to 1.2 trillion yen, wider than the 950 million consensus estimate. Exports to emerging countries and China continues to remain supported, countering weakness to major markets.
  • [B]AUDUSD -[/B] Second quarter consumer price index rises 1.2 percent on the quarterly assessment, higher by 2.1 percent on the annualized comparison. Figure sets up a quarter point rate increase possibility next time RBA meets.
  • [B]EURUSD -[/B] French July INSEE business confidence indicator prints as expected to 110. Confidence remains near a six year high on falling unemployment and suggested growth. Production figures, however, countered the positive report, dipping to 17 from the previous month?s 24.
  • [B]US Dollar[/B] advances against the majors, including the Euro, British Pound, and Japanese yen ahead of the existing home sales report. Expectations remain bearish on the release.