German ZEW Economic Sentiment may be positive for EUR

The German ZEW Economic Sentiment data will be announced today at 9:00 am GMT. The forecast is 45.2 which indicates optimism. If the currency pair EUR/USD go over 1.4150 that could will take price back to 1.4200-1.4230 area.

Current price of EUR/USD 1.4127

The British Consumer Price Index data (CPI) will be released today.

The data will be released at 8:20 am GMT. Current price of GBP/USD at 6:51 am GMT is 1.6383.

It looks quite possible after the data is released the deeper decline to continue and target would be at 1.6000 zone.

Gross Domestic Product (GDP) may be positve for JPY

The Gross Domestic Product (GDP) for the Yen will be published on Sunday August 16th at 11:50 pm GMT.

It's the broadest measure of economic activity and the primary gauge of the economy's health. The forecast looks positive with 1.1% after the last GDP report on May 19 when the JPY went bearish after the data was released.

Deeper decline is in favor for EUR

Deeper decline is in favor and next target would be at 1.3900 or even lower. Near term resistance is at 1.4125, as long a this level holds, downtrend will continue.

Net Lending to Individuals data will be released today

The Net Lending to Individuals data is expected to be positive and push up the GBP today. The data will be released at 8:30 am GMT. The forecast is 1.0B which indicates a rising debt level and it is a sign that lenders feel comfortable issuing loans, and that consumers are confident in their financial position and eager to spend money.

Current price of GBP/USD 1.6445 and a rally up to a level of 1.6500 could be seen after the data is released.

CBI Realized Sales data will be released today

CBI Realized Sales data will be released today at 11:00 am GMT. It's a leading indicator of consumer spending because retailer and wholesaler sales are directly influenced by consumer buying levels. The expetations are negative and it may downtrend the GBP short after the data is released.

Sales of new homes rise and uptrend the USD

Sales of new homes in the U.S. in June rose by the biggest amount since November 2008, climbing by 11% to a seasonally adjusted annual rate of 384,000, the Commerce Department reported today.

The data was released at 2:00 pm GMT when the price of EUR/USD was trading at the price of about 1.4260. Short after the announcement the USD gained profit and the currency pair EUR/USD downtrend to the price of 1.4420 at 2:45 pm GMT. (profit of 40 pips)

Possible break to 1.4280 for EUR

The current price of EUR/USD is: 1.4226. The GfK German Consumer Climate data will be released today at 6:00 am GMT and the expectations are positive and the EUR will most likely test to reach a level of 1.4280

Comment:
Position EUR/USD bought at the price of 1.4230 at 4:40 am GMT and position sold at level 1.4285 at 11:10 am GMT (profit of 55 pips)

New Home Sales data could uptrend the USD

The new home sales data will be announced today at 2:00 pm GMT. It's a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect.

Deeper decline is now in favor for EUR

The current price of EUR/USD is 1.4155 and deeper decline is now in favor and next target would be at 1.3900 zone.

However, the German Info Business Climate data will be released today at 8:00 am GMT and the expectations indicates an economic recovery which may uptrend the EUR towards a level of 1.4250 at some point later on today.

Comment:
Position taken at level 1.4160 and position sold at level 1.4240 at 10:15 am GMT (profit of 80 pips)

Retail sales and mortgage approvals could push the GBP

After falling last time by 0.6%, Retail Sales are predicted to rise by 0.4%. This figure is published today at 8:30 am GMT.

Also today the mortgage approval data will be released at the same time and now, expectations are high - the bulls want to see an even higher figure - 33.3K. If expectations are met here and at the Rightmove HPI, this could push the Pound higher.

Current price GBP/USD 1.6474

Current account balance data could be negative for EUR

The current account balance data will be released today at 8am (GMT) and the forecast shows negative numbers (-3.6B) which indicates decreasing surplus and it may be negative for the European currency.

Current price EUR/USD at 4:47am (GMT) is 1.4233 and some bullish movements are still in favour up to a level of 1.4250.
However, after the current account balance data is released the currency pair could test downtrend to a level of 1.4150

USD/JPY with possible downturn today

USD/JPY will probably test some bearish movements throughout the day related to the Mitsubishi Groups issuance of USD equity.

Current price at 4:50 am (GMT) is 93.67

CBI Industrial Order will be released today

The CBI Industrial Order data will be released today at 10am (GMT) and the expectations are not very positive for the british currency. This indicator has brought bad news since the beginning of the year. It could affect again the pound in some negative direction after the data is released.

Public Sector Net Borrowing could be slightly negetive for GBP

The Public Sector Net Borrowing data will be released today at 8:30m am (GMT) . The number expected from the data is positive (17.5B) which could slightly downturn the GBP since that positve number indicates a budget deficit.

EUR/USD is trading at about 1.4200 at 4:21 am GMT

EUR/USD current prices is 1.4200 and some bullish movement could be seen later on today close to a level of 1.4260

EUR/JPY has reached 1.3400

The currency pair has reached level of 1.3400 and it seems likely to go up to a level of about 1.3420 later on today. There is a bank holiday in Japan today and the lack of sellers is a fact which may be negative for the JPY.

Possible level of 1.4190 for EUR/USD today

Currently, at 4:36am GMT, EUR/USD is 1.4158 and uptrend to a level of 1.4190 looks positive at some point later on today. If that level is reached then a downturn to a possible level of 1.3900 could be expected.