FOREX News and Overnight Technical Levels- July 6th

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

  • German May factory orders rise 3.2 percent in the month over month assessment. Annualized comparison advanced by 7.5 percent, much higher than consensus expectations.
  • UK May industrial production inches 0.6 percent higher on the monthly survey bolstering a 0.5 percent move higher in the yearly figure. Results are better than expected and support healthy growth for the sector.
  • UK manufacturing production rises in the same month by 1 percent on the yearly assessment. Survey results are above expectations and coincides with pickup in industrials.
  • Swiss unemployment rate prints better than expected picture. National rate dips to 2.5 percent from the previous 2.6 percent rate.

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

  • Australia June foreign reserves rises to A$79.7 billion, falls from previous A$84.6 billion.
  • Canada net employment report for the month of June rises more than expected by 34.8K. The employment rate remains stable at 6.1 percent despite improvements in employment.
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