In the week ahead. Investors will shift their focus on the German GDP, inflation and retail sales from the U.S. From the U.K the focus will be on the employment report for Jun as well as the Retail Sales data. Some economic data from China will also be highlighted to see the development of the US-China trade war.
Let’s take a quick look at the most important economic news for this week:
Tuesday, August 13, 2019
- U.K Average Earnings Index +Bonus (Jun) at 08:30 GMT.
- U.K Claimant Count Change (Jul) at 08:30 GMT.
- German ZEW Economic Sentiment (Aug) at 09:00 GMT.
- U.S Consumer inflation data (Jul) at 12:30 GMT.
Wednesday, August 14, 2019
- China Industrial Production (YoY) (Jul) at 02:00 GMT.
- German GDP (QoQ) (Q2) at 06:00 GMT.
- U.K Consumer inflation data at 08:30 GMT.
Thursday, August 15, 2019
U.K Retail Sales data (Jul) at 08:30 GMT.
U.S Retail Sales data (Jul) at 12:30 GMT.
Friday, August 16, 2019
- U.S Building Permits (Jul)
You can track this news in real-time at the following link below:
U.S Dollar Index Sees Further Downside Pressure!
The U.S dollar index remains on the downside as long as 97.87 resistance holds on a daily closing basis. Support comes at 96.75 levels. A halt is likely, it may test 97.58/97.87 before attempts to break lower. Anyway; below 96.75 aims the 96.25 levels. Furthermore, support comes at 95.66 levels.
On the upside, resistance comes at 97.58 ahead of 97.87 levels (main). Above 97.87 sees recovery threats to 98.23 levels before another fall. Next would challenge 98.67 levels. Above 98.67 will turn outlook bullish to 99.00 levels ahead of the 100.00 levels.
In conclusion: The US dollar index remains on the downside as long as trades below 97.87 levels.
Support: 96.75, 96.25, 95.66, 95.25, 94.75, 94.15
Resistance: 97.58, 97.87 (main). 98.23, 99.00, 100.00
The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies (EUR, JPY, GBP, CAD, SEK, CHF). (In this order according to the strength of the effect, from the strongest -EUR- to the weakest CHF). The Index goes up when the U.S. dollar gains “strength” (value) when compared to other currencies and vice versa…