Currency Analyst since 2010

July 29: Asian session

Demand for US dollar is limited before a private report forecast to show sales of previously owned US homes fell (14:00 GMT) and the Fed starts a 2-day meeting tomorrow.

EUR/USD is still capped by $1.3000. Traders await US data and guidance from European stocks before that. GBP/USD is constrained below $1.5400.The UK will release net lending to individuals data at 08:30 GMT and CBI realized sales at 10:00 GMT. USD/JPY is trading in the slightly negative zone around 97.90. Japan June retail sales disappointed the markets, contracting by 0.2% m/m (vs. +0.8% expected). USD/CHF holds around 0.9285.

AUD/USD touched $0.9290, but then edged lower to $0.9255, staying almost flat. Tonight Australia is scheduled to release building approvals data; RBA governor Stevens delivers a speech. NZD/USD is consolidating around $0.8080. Data over the weekend showed China industrial profits increased by 6.3% y/y in June, slowing from +15.5% in May. USD/CAD is still holding above the 100-day MA at 1.0265.

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