Currency Analyst since 2010

July 25: Asian session


US dollar headed for a second weekly gain versus euro before data today may show durable goods orders rebounded in June, adding to signs the economy is gathering momentum.

USD/JPY is trading under resistance in the 101.80 area. Japanese CPI data that came out somewhat higher than expected (+3.6% in June vs. +3.5% expected), but Japanese economy minister Amari reassured the markets that the QE end is nowhere near.

AUD/USD consolidates in a narrow $0.9425/00 range, retracing from the yesterday's $0.9470 high. NZD/USD trades in a tight $0.8550/85 range following the yesterday’s sharp selloff. New Zealand business confidence came below the forecast at 39.7. Gold price consolidates at the monthly lows a bit above $1290.

EUR/USD is trading a bit on the upside, in the $1.3460 area. GBP/USD is trying to recover after it slid to $.1.6965 yesterday.

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