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Currency Analyst since 2010

July 15: Asian session

EUR/USD is a bit down, in the $1.3070 area. There will be no important data in the European agenda. Weshould mention political instability in Spain where Prime Minister Rajoy is facing renewed calls to resign after a newspaper published text messages allegedly linking him to the man at the centre of a secret payments scandal. Later today in the US watch for the Empire State manufacturing index and retail sales (12:30 GMT).

GBP/USD is trading just above $1.5100. USD/JPY is consolidating in a tight range around 0.9930. July 15 is the national holiday in Japan (Marine day). USD/CHF recovered to 0.9470.

AUD/USD strengthened to the 0.9100 mark from the Friday’s 3-months low of 0.9000. Data showed Australia new motor vehicle sales came at 4.0% in June (previous: revised up to 0.3%). NZD/USD recovered above 0.7800. Tonight New Zealand will release CPI figures. USD/CAD is in the 1.0385 area. The pair was capped by 1.0400 during the Asian session.

Today’s release showed China’s GDP growth slowed to 7.5% y/y (forecast and previous: 7.7%). Other figures showed June industrial production slowed from 9.2% to 8.9% y/y. Chinese officials added to concerns, saying that the country faces a “relatively big” economic downturn pressure.

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