US Dollar (USD)
The Dollar rose from the lowest level this year against most majors on revived demand for the safety of the world's main reserve currency. US house prices posted its first monthly gain in three years, providing hope to consumers shaken by rising joblessness. Wall Street closed on a mixed note. NASDAQ rose by 0.39% and Dow Jones declined by 0.13%. Crude oil dropped by 2%, closing at 67.23$ a barrel as a result of the decreased in consumer confidence. Gold (XAU) weakened by 1.7% closed at 937.20$ an ounce. Today, Durable Goods Orders is expected at -0.6 vs. 1.8% previously.
The Euro suffered from volatile trading against the Dollar trading with a low of 1.4131 and with a high of 1.4304. The Euro traded near a 4 week high against the CHF before a report which may show business confidence rose to an eight-month high, boosting demand for higher-yielding assets. Today, German CPI is expected at 0.20% vs. 0.40% previously.
EUR/USD - Last: 1.4160
British Pound (GBP)
The Pound dropped against the Dollar and traded with no particular change against the Euro after UK house prices rose for the first time in 17 months in June. No important financial data expected today.
GBP/USD - Last: 1.6400
Japanese Yen (JPY)
The yen advanced versus the euro for the first time in four days as a bigger-than-forecast drop in U.S. consumer confidence this month discouraged Japanese investors from buying higher-yielding assets overseas. All in all the USD/JPY traded with a low 94.03 and with a high 95.26. Retail sales released at-3.0% vs. -2.5% forecast. No economic data expected today.
Canadian dollar (CAD)
The Canadian Dollar started the day with gains but as the trading continued dropped for the first time in eight days against its US Dollar after a report showed American consumer confidence declined in July more than forecast and stocks and crude oil tumbled. Overall, USD/CAD traded with a low of 1.0749 and with a high of 1.0906.
CAD/USD - Last: 1.0845