July 18: European session
EUR/USD keeps consolidating in the narrow $1.3130/3090 range. Euro zone’s current account came a bit worse than expected (19.6B vs. forecast 21.3B and previous 23.8B). There are no more important events on the euro zone’s agenda. In the US session watch unemployment claims (forecast: improvement) and the Philly Fed manufacturing index (forecast: decline).
GBP/USD rose to $1.5240 after testing levels below $1.5200 earlier today. UK retail sales rose as expected by 0.2% in June after increasing by 2.1% in May.
EUR/GBP is trading under pressure, testing the 0.8600 support. EUR/CHF slipped from the daily highs of 1.2380.