Comment On Forex - 22th Of July - Forex Forum

Hello,

Some economic news today:

8:45 GMT: The BoE Chairman Mervyn King gives a press conference as to how the BoE observes the current UK economy and the value of the GBP. His comments may determine a short-term positive or negative trend. If he shows a hawkish outlook, that is seen as positive (or bullish) for the GBP, while a dovish is seen as negative (or bearish).

12:30 GMT: The Retail Sales released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence. It shows the performance of the retail sector in the short term. The positive economic growth anticipates bullish movements for the CAD.

14:00 GMT: The Housing Price Index released by the Office of Federal Reserve Housing Enterprise Oversight provides an estimated value of housing market conditions. It is an important indicator as the housing market is considered as a sensitive factor to the US economy. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

23th of July

01:30 GMT: The Consumer Price Index released by the Australian Bureau of Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services . The purchase power of AUD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative ( or Bearish).

I have not find any trend today, the market is calm. We can check the long term range on EUR CHF, the support on USD JPY, 1.0140 support on USDCHF and 0.9990 support on USD CAD.