August 19: Asian session
EUR/USD didn’t manage last week to reach August highs at $1.3400. Today the pair’s trading on the downside, though above $1.3300. Euro’s supported before German data this week (Tuesday and Thursday) that may show the currency bloc’s largest economy is gaining momentum. GBP/USD rose a bit to $1.5620 after opening the week with a gap down. Sterling is below Friday’s high at $1.5657. Britain released mixed data showing a monthly decline, but a yearly growth in house price.
USD/JPY is consolidating around 97.60. Yen fell earlier on data showing Japan’s trade deficit widened in July. USD/CHF is moving sideways below 0.9280.
AUD/USD reached 55-day MA at $0.9230. Australian dollar climbed amid speculation that the minutes tomorrow of the Reserve Bank’s last meeting will signal no hurry to reduce interest rates further. NZD/USD reached the top of the daily Ichimoku Cloud at $0.8120. USD/CAD is at 1.0330 after dipping to 1.0315 earlier today.
As for the greenback, the main theme will be the minutes of the Fed’s July policy meeting due later this week.