Euro May Shrug Off GDP Data as US Dollar Gains on FOMC Minutes

Talking Points:

  • Euro might shrug off 2Q GDP rider with ECB QE finish in focus
  • UK jobless claims information might pass with small notice from a Pound
  • US Dollar might arise as FOMC mins spirit during third 2017 rate hike

A revised set of second-quarter Eurozone GDP total headlines a mercantile calendar in European trade hours. The peep guess display a 0.6 percent quarterly benefit is approaching to be confirmed, as is a trend enlargement reading putting on-year gait of enlargement during 2.1 percent.

News-flow out of a banking confederation has run-down relations to forecasts given a initial projection was published during a commencement of this month. This points to hillside risk. Such a outcome might harm a Euro though durability follow-through seems doubtful amid hopes for on-coming tapering of ECB QE.

The British Pound might be likewise unimpressed by July’s UK jobless claims report. Prospects for BOE process tightening have dimmed after yesterday’s disappointing CPI numbers, creation these numbers something of a indecisive pointregardless of a outcome.

Minutes from July’s FOMC process meeting will be in concentration thereafter. The US Dollar might arise if a request suggests that a rate-setting cabinet stands by June’s projection for 3 rate hikes in 2017 – dual of that have already materialized – notwithstanding a run of indolent acceleration total recently.

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Asia Session

Euro May Shrug Off GDP Data as US Dollar Gains on FOMC Minutes

European Session

Euro May Shrug Off GDP Data as US Dollar Gains on FOMC Minutes

** All times listed in GMT. See a full DailyFX mercantile calendar here.

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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