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Wednesday, July 15th
AUD/USD is up for the second consecutive day trading at 0.7460. New Motor Vehicle sales were up 3.8% after previous reading of -6.9%. The aussie was greatly supported by the Chinese GDP data coming out higher than expected.
NZD/USD was headed up as weaker retail data from U.S. weakened the greenback, but today’s move was all the way down through the 0.67 level. Tomorrow, the New Zealand CPI is out, which will give further indications of how weak the Kiwi is and if the bearish trend is going to continue for long. NZD/USD is currently at 0.6692.
On the other hand, GBP/USD rallied supported by lower retail sales in the U.S. and hawkish comments from Band of England officials. The cable traders now look for the average earnings in the UK. The market price of GBP is $1.5662.
EUR/USD is changing hands at 1.1015 after yesterday’s EZ ZEW Economic Sentiment and Industrial Production data were lower than expected. The market is looking forward to the Fed Chair J. Yellen’s speech in the evening.
USD/CAD is up this morning ahead of Interest rate decision later in the day. The loonie was constantly getting weaker for over two months in a row, almost reaching the March highs of 1.2833.
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