Current Sentiment

Current Sentiment:
Yesterday during NY, the USD rebound continued after the US GDP printed better than expected at 3.7%, and weekly jobless claims remained at rock bottom levels. Risk sentiment also seemed to improve a bit further with US and European Equities continuing to rally. These developments helped to push the USDJPY north of 121.00 on the session where it is currently finding some resistance and is now trading at 120.99 at the time of this writing. The EURUSD moved as low as 1.1200 on the session before finding some bids at the figure.

WTI has continued to rally strong currently trading $5.70 off of this weeks low. We continue to see CAD strength across the board as a result.

During Asia we saw data from Japan including CPI figures, Household Spending, Retail Sales, and the Unemployment Rate. Tokyo Core CPI came in unchanged as expected at -0.1%, the Unemployment Rate printed better than estimates at 3.3%, and retails sales also came in higher at 1.6%. July national consumer prices printed at 0.0%. Japan continues to struggle with deflation, and at these levels the Bank of Japan’s 2% inflation target continues to look some way off and will put pressure on policy makers to consider increasing their quantitative easing program.

On tap for today we have Swiss GDP, German and Spanish CPI, and UK Second Estimate GDP during early London. Then later after NY opens we will see RMPI out of Canada, along with US Goods Trade Balance, Core PCE and Consumption, and Revised UoM Consumer Sentiment. It is also day 2 of the Jackson Hole Symposium.

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Source:: Current Sentiment

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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