Hello everybody hope you are fine. Dollar recovery seems to be over for now, as majors are looking for a reversal after last weeks straight fall. Despite a really good reading in oil stocks that increased to more than 9 million and gave the American currency some extra strength late in the American session, market players are considerating other factors at the moment, (like interest rate differentials between the U.S. and other countries, that don’t seem to shrink anytime soon or the rebound in crude oil prices that put some extra inflationary pressure around the world).
These are the most relevant news for today, East Time:
04:30 GBP Retail Sales for July, MoM (Expected -0.2% Previous -3.9%) and YoY (Expected 1.8% Previous 2.2%)
08:30 US Initial Claims 08/16 (Expected 433K Previous 450K)
10:00 US Leading Indicators July (Expected -0.2% Previous -0.1%)
10:00 US Philadelphia Fed August (Expected -14.1 Previous -16.3)
I’ll be back in a few minutes, with a technical perspective, have a great day!
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